Citigroup Inc. $C is Cullen Capital Management LLC’s 7th Largest Position

Cullen Capital Management LLC reduced its stake in Citigroup Inc. (NYSE:C) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,757,364 shares of the company’s stock after selling 39,004 shares during the quarter. Citigroup makes up approximately 2.7% of Cullen Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Cullen Capital Management LLC owned approximately 0.15% of Citigroup worth $234,707,000 as of its most recent filing with the SEC.

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

Citigroup Trading Up 0.1%

Shares of Citigroup stock opened at $111.82 on Monday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $101.21 and its 200-day simple moving average is $94.53. The stock has a market cap of $200.07 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.56 and a beta of 1.21. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $113.43.

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

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 33.71%.

Wall Street Analysts Forecast Growth

C has been the subject of several recent analyst reports. Oppenheimer cut their price target on shares of Citigroup from $123.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Wells Fargo & Company raised their price target on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of Citigroup in a report on Wednesday. Finally, TD Cowen lifted their price target on Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.47.

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.