Citigroup Inc. $C Stake Reduced by Cullen Capital Management LLC

Cullen Capital Management LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,757,364 shares of the company’s stock after selling 39,004 shares during the period. Citigroup accounts for approximately 2.7% of Cullen Capital Management LLC’s holdings, making the stock its 7th largest holding. Cullen Capital Management LLC’s holdings in Citigroup were worth $234,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of C. Summit Financial Wealth Advisors LLC raised its holdings in Citigroup by 52.6% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 4,855 shares of the company’s stock valued at $413,000 after buying an additional 1,673 shares during the period. Capital A Wealth Management LLC purchased a new position in Citigroup during the second quarter worth about $38,000. Caldwell Trust Co acquired a new stake in shares of Citigroup during the second quarter valued at about $217,000. Watts Gwilliam & Co. LLC raised its stake in shares of Citigroup by 3.5% in the 2nd quarter. Watts Gwilliam & Co. LLC now owns 7,260 shares of the company’s stock valued at $618,000 after acquiring an additional 247 shares during the period. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Citigroup by 1.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 66,346 shares of the company’s stock worth $5,647,000 after acquiring an additional 1,064 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Cowen reiterated a “hold” rating on shares of Citigroup in a report on Wednesday. Wells Fargo & Company upped their price target on Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Bank of America lifted their price objective on Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Citigroup in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $112.47.

Citigroup Trading Up 0.1%

NYSE:C opened at $111.82 on Monday. The firm has a market cap of $200.07 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.56 and a beta of 1.21. The stock has a fifty day moving average price of $101.21 and a 200 day moving average price of $94.53. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $113.43. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.35. The company had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.Citigroup’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were paid a $0.60 dividend. The ex-dividend date was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.1%. Citigroup’s payout ratio is currently 33.71%.

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.