Cullen Capital Management LLC Acquires 747,974 Shares of Citigroup Inc. (NYSE:C)

Cullen Capital Management LLC grew its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 33.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,963,825 shares of the company's stock after acquiring an additional 747,974 shares during the period. Citigroup comprises approximately 2.4% of Cullen Capital Management LLC's holdings, making the stock its 14th biggest position. Cullen Capital Management LLC owned 0.16% of Citigroup worth $208,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock worth $24,844,000 after purchasing an additional 11,674 shares during the last quarter. Brookstone Capital Management lifted its position in shares of Citigroup by 340.6% in the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company's stock worth $2,536,000 after buying an additional 27,856 shares during the last quarter. Inspire Trust Co. N.A. grew its position in shares of Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company's stock valued at $4,852,000 after buying an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC raised its stake in Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company's stock worth $1,376,000 after acquiring an additional 12,280 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company's stock worth $22,236,000 after acquiring an additional 8,301 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

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Insiders Place Their Bets

In related news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 in the last three months. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on C shares. Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a report on Thursday, January 16th. Bank of America cut their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Evercore ISI cut their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $84.54.

Citigroup Stock Down 3.0 %

NYSE C traded down $1.75 on Wednesday, reaching $57.02. The stock had a trading volume of 10,945,950 shares, compared to its average volume of 14,208,005. The business has a 50 day moving average price of $74.30 and a 200 day moving average price of $70.97. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a market capitalization of $107.31 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts' expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.93%. Citigroup's payout ratio is 37.65%.

Citigroup Company Profile

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.