Meritage Portfolio Management Has $4.69 Million Position in Citigroup Inc. (NYSE:C)

Meritage Portfolio Management lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,212 shares of the company’s stock after selling 723 shares during the period. Meritage Portfolio Management’s holdings in Citigroup were worth $4,692,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of C. Northern Trust Corp raised its holdings in shares of Citigroup by 1.2% in the third quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock valued at $824,710,000 after buying an additional 232,652 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Citigroup by 3.0% during the 3rd quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock worth $683,886,000 after purchasing an additional 486,952 shares in the last quarter. Greenhaven Associates Inc. raised its stake in shares of Citigroup by 22.4% during the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after purchasing an additional 2,948,512 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Citigroup by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,751,201 shares of the company’s stock valued at $565,587,000 after acquiring an additional 192,631 shares during the period. Finally, Sanders Capital LLC grew its holdings in Citigroup by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 11,496,482 shares of the company’s stock valued at $472,850,000 after buying an additional 30,501 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on C shares. Barclays raised their price objective on Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Evercore ISI raised their target price on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Societe Generale cut Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Finally, HSBC lifted their target price on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $62.91.

Citigroup Stock Performance

NYSE C traded down $0.68 on Thursday, hitting $61.79. 13,194,908 shares of the company traded hands, compared to its average volume of 17,041,756. The business’s 50 day moving average price is $58.81 and its 200-day moving average price is $51.70. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90. The company has a market capitalization of $118.35 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 0.94 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last posted its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.86 earnings per share. Equities analysts expect that Citigroup Inc. will post 5.97 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.43%. Citigroup’s payout ratio is currently 62.72%.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.