Citigroup Inc. $C Holdings Cut by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. trimmed its position in Citigroup Inc. (NYSE:C) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,017,682 shares of the company’s stock after selling 4,558 shares during the period. Citigroup comprises about 11.7% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its largest position. Thornburg Investment Management Inc. owned about 0.45% of Citigroup worth $935,583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verus Capital Partners LLC lifted its holdings in shares of Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after acquiring an additional 82 shares during the period. Elmwood Wealth Management Inc. lifted its holdings in shares of Citigroup by 1.3% during the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after acquiring an additional 85 shares during the period. Park Place Capital Corp lifted its holdings in shares of Citigroup by 16.7% during the 4th quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after acquiring an additional 85 shares during the period. D.B. Root & Company LLC lifted its holdings in shares of Citigroup by 2.8% during the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock worth $372,000 after acquiring an additional 87 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Citigroup by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock worth $1,213,000 after acquiring an additional 87 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.1%

Shares of NYSE:C opened at $139.68 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 52-week low of $76.11 and a 52-week high of $141.12. The company has a 50 day moving average of $127.34 and a two-hundred day moving average of $118.19. The company has a market capitalization of $238.23 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.12.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter last year, the company earned $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.7%. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi’s overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 price objective on the stock. Evercore set a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. The Goldman Sachs Group increased their price objective on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, Oppenheimer reiterated an “outperform” rating and set a $145.00 price objective on shares of Citigroup in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.62.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the transaction, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by company insiders.

Citigroup Profile

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.