Citigroup Inc. (NYSE:C) is Thornburg Investment Management Inc.’s 3rd Largest Position

Thornburg Investment Management Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,005,098 shares of the company’s stock after selling 18,842 shares during the period. Citigroup accounts for 6.3% of Thornburg Investment Management Inc.’s holdings, making the stock its 3rd biggest holding. Thornburg Investment Management Inc. owned 0.37% of Citigroup worth $444,544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. POM Investment Strategies LLC bought a new position in shares of Citigroup during the second quarter worth $25,000. Beacon Capital Management LLC lifted its stake in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Citigroup during the 2nd quarter valued at about $32,000. Frazier Financial Advisors LLC purchased a new position in shares of Citigroup during the fourth quarter valued at about $29,000. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Citigroup by 93.2% in the second quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after purchasing an additional 276 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on C shares. Morgan Stanley raised their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. The Goldman Sachs Group decreased their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler increased their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Argus upped their target price on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Stock Performance

C stock opened at $57.28 on Thursday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market cap of $109.26 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 0.64 and a beta of 1.45. The business’s fifty day simple moving average is $62.08 and its two-hundred day simple moving average is $61.30. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. Analysts predict that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.91%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is 62.75%.

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.