Cullen Frost Bankers Inc. Boosts Stake in Citigroup Inc. $C

Cullen Frost Bankers Inc. grew its stake in shares of Citigroup Inc. (NYSE:C) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 192,160 shares of the company’s stock after buying an additional 20,199 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Citigroup were worth $16,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in C. Brighton Jones LLC raised its position in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Citigroup by 12.7% during the 1st quarter. GAMMA Investing LLC now owns 34,236 shares of the company’s stock valued at $2,430,000 after buying an additional 3,855 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Citigroup by 10.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 158,492 shares of the company’s stock valued at $11,251,000 after buying an additional 15,238 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Citigroup by 7.6% during the 1st quarter. JFS Wealth Advisors LLC now owns 4,910 shares of the company’s stock valued at $349,000 after buying an additional 348 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Citigroup by 11.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 897,192 shares of the company’s stock valued at $63,692,000 after buying an additional 91,622 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the topic of several research reports. Piper Sandler raised their price objective on shares of Citigroup from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $112.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Morgan Stanley increased their target price on shares of Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Wells Fargo & Company increased their target price on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Finally, Barclays increased their target price on shares of Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average target price of $107.63.

Citigroup Price Performance

Shares of Citigroup stock opened at $98.29 on Wednesday. The firm has a market cap of $180.94 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The company’s fifty day simple moving average is $97.78 and its two-hundred day simple moving average is $85.24.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.03). The firm had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.Citigroup’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 33.71%.

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.