Cullen Frost Bankers Inc. Cuts Position in Citigroup Inc. (NYSE:C)

Cullen Frost Bankers Inc. reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,745 shares of the company’s stock after selling 4,136 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Citigroup were worth $1,942,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in C. International Assets Investment Management LLC acquired a new stake in Citigroup in the fourth quarter valued at approximately $2,109,120,000. Greenhaven Associates Inc. increased its stake in 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 buying an additional 2,948,512 shares during the period. AQR Capital Management LLC lifted its holdings in Citigroup by 42.4% in the 3rd quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock worth $266,709,000 after buying an additional 1,930,296 shares in the last quarter. Fisher Asset Management LLC boosted its position in Citigroup by 8.0% in the 4th quarter. Fisher Asset Management LLC now owns 24,751,813 shares of the company’s stock valued at $1,273,233,000 after buying an additional 1,832,819 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Citigroup by 251.1% during the third quarter. Canada Pension Plan Investment Board now owns 2,356,177 shares of the company’s stock valued at $96,910,000 after acquiring an additional 1,685,100 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 0.9 %

C stock opened at $63.32 on Friday. The company’s 50 day simple moving average is $60.13 and its 200-day simple moving average is $53.17. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $121.28 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 earnings per share. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.98 EPS for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on C. HSBC raised their price objective on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Piper Sandler boosted their price objective on Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Wells Fargo & Company reiterated an “overweight” rating and set a $80.00 price objective on shares of Citigroup in a research note on Monday, April 1st. Finally, Evercore ISI lifted their target price on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.85.

Citigroup 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.