Citigroup Inc. $C Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC lessened its stake in Citigroup Inc. (NYSE:C) by 10.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,456,580 shares of the company’s stock after selling 300,784 shares during the quarter. Citigroup comprises approximately 2.7% of Cullen Capital Management LLC’s holdings, making the stock its 7th biggest holding. Cullen Capital Management LLC owned approximately 0.13% of Citigroup worth $249,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in C. Vanguard Group Inc. increased its stake in Citigroup by 0.7% during the second quarter. Vanguard Group Inc. now owns 165,851,890 shares of the company’s stock worth $14,117,313,000 after acquiring an additional 1,148,451 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Citigroup by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 42,957,190 shares of the company’s stock worth $3,645,084,000 after purchasing an additional 411,894 shares during the period. Franklin Resources Inc. increased its position in Citigroup by 2.2% during the 2nd quarter. Franklin Resources Inc. now owns 32,290,532 shares of the company’s stock worth $2,748,571,000 after purchasing an additional 679,967 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Citigroup by 3.2% in the second quarter. Fisher Asset Management LLC now owns 32,161,457 shares of the company’s stock valued at $2,737,583,000 after buying an additional 988,152 shares during the period. Finally, Norges Bank acquired a new position in Citigroup during the second quarter valued at approximately $2,455,929,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Wall Street analyst tone remains constructive — several coverage notes and a Zacks piece highlight analyst optimism that Citigroup’s valuation and earnings trajectory make it a buy candidate, which supports longer-term upside. Is Citigroup (C) a Buy as Wall Street Analysts Look Optimistic?
• Positive Sentiment: Q4 fundamentals show pockets of strength — Citigroup reported an EPS beat on Jan. 14 (helping sentiment) and media write-ups summarize what drove the quarter, providing evidence management can lift profitability even as revenues were mixed. Here’s what lifted Citigroup (C) in Q4
• Neutral Sentiment: Citigroup filed to create a new 6.250% preferred-stock Series II — this strengthens capital/funding flexibility but introduces fixed-cost securities that can be viewed as a higher-cost form of capital; impact depends on use of proceeds and market reception. Citigroup Establishes New 6.250% Preferred Stock Series II
• Negative Sentiment: Major workforce reduction announced — reports say Citigroup plans to cut about 60,000 jobs by 2026. The scale raises concerns about execution risk, one-off costs, and reputational effects; while cuts could boost margins long-term, markets often punish uncertainty and the near-term expense and disruption. Citigroup to Axe 60,000 Jobs by 2026 — What It Signals for Bank Workers Everywhere

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on C. Royal Bank Of Canada reissued an “outperform” rating and issued a $121.00 price objective on shares of Citigroup in a research report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a report on Wednesday, January 21st. Wells Fargo & Company set a $150.00 price objective on Citigroup in a research note on Monday, January 5th. Truist Financial upped their target price on Citigroup from $123.00 to $129.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Bank of America raised their target price on Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.56.

Citigroup Trading Down 0.3%

NYSE:C opened at $117.38 on Thursday. The stock has a market cap of $210.02 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.75 and a beta of 1.18. Citigroup Inc. has a one year low of $55.51 and a one year high of $124.17. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.99 and a current ratio of 1.00. The business’s 50-day simple moving average is $114.63 and its 200 day simple moving average is $103.61.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 14th. The company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.16. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The firm had revenue of $19.87 billion during the quarter, compared to analyst estimates of $20.99 billion. During the same quarter last year, the firm earned $1.34 EPS. Citigroup’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 2nd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, February 2nd. Citigroup’s payout ratio is 34.43%.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.