Cullen Frost Bankers Inc. Purchases 134,515 Shares of Citigroup Inc. (NYSE:C)

Cullen Frost Bankers Inc. raised its holdings in Citigroup Inc. (NYSE:C - Free Report) by 359.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,961 shares of the company's stock after acquiring an additional 134,515 shares during the period. Cullen Frost Bankers Inc.'s holdings in Citigroup were worth $12,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Citigroup in the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Citigroup in the 1st quarter valued at about $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup in the 1st quarter valued at about $29,000. Mascagni Wealth Management Inc. bought a new position in shares of Citigroup during the 4th quarter valued at about $34,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Citigroup during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 0.4%

C traded up $0.35 on Friday, hitting $93.44. 16,590,582 shares of the company were exchanged, compared to its average volume of 14,679,733. The stock has a market capitalization of $174.52 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.70 and a beta of 1.34. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $93.79. The firm has a fifty day simple moving average of $79.99 and a two-hundred day simple moving average of $75.29. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $1.52 EPS. Sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a $0.60 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's dividend payout ratio (DPR) is currently 33.09%.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director directly owned 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

C has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Barclays upped their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday. Evercore ISI set a $77.00 target price on Citigroup in a research note on Monday, July 7th. The Goldman Sachs Group upped their target price on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company raised their price target on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $96.46.

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.