Cullen Capital Management LLC Has $208.62 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Cullen Capital Management LLC grew its holdings in shares of Citigroup Inc. (NYSE:C) by 33.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,963,825 shares of the company’s stock after buying an additional 747,974 shares during the quarter. Citigroup accounts for about 2.4% of Cullen Capital Management LLC’s holdings, making the stock its 14th biggest position. Cullen Capital Management LLC owned approximately 0.16% of Citigroup worth $208,624,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was 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 represents a 11.57 % 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 over the last three months. 0.08% of the stock is owned by company insiders.

Citigroup Stock Down 8.0 %

Shares of NYSE C opened at $58.00 on Friday. The stock has a market capitalization of $109.17 billion, a P/E ratio of 9.75, a PEG ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The firm’s 50 day simple moving average is $75.61 and its two-hundred day simple moving average is $70.95. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the company earned $0.84 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is 37.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group decreased their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Evercore ISI cut their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday. Morgan Stanley decreased their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Oppenheimer cut their price target 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $83.23.

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.