Thornburg Investment Management Inc. Has $560.11 Million Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Thornburg Investment Management Inc. holds approximately 7.8% of its portfolio in Citigroup Inc., making it the firm's 2nd largest investment with around $560 million in shares.
• Citigroup recently increased its quarterly dividend to $0.60 per share, up from $0.56, representing an annual dividend yield of 2.51%.
• The company's stock experienced positive earnings in its last quarter, reporting $1.96 EPS, exceeding estimates, with a revenue growth of 8.2% compared to the previous year.

Thornburg Investment Management Inc. trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,890,018 shares of the company's stock after selling 6,707 shares during the quarter. Citigroup accounts for approximately 7.8% of Thornburg Investment Management Inc.'s holdings, making the stock its 2nd biggest holding. Thornburg Investment Management Inc. owned approximately 0.42% of Citigroup worth $560,112,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after acquiring an additional 119 shares in the last quarter. Continuum Advisory LLC grew its stake in Citigroup by 1.9% during the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after buying an additional 120 shares during the last quarter. Insight Inv LLC grew its stake in Citigroup by 0.5% during the 1st quarter. Insight Inv LLC now owns 27,268 shares of the company's stock worth $1,936,000 after buying an additional 146 shares during the last quarter. Trust Co. of Vermont grew its stake in Citigroup by 14.3% during the 1st quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock worth $85,000 after buying an additional 150 shares during the last quarter. Finally, Mystic Asset Management Inc. grew its stake in Citigroup by 0.5% during the 1st quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company's stock worth $2,066,000 after buying an additional 150 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

C has been the subject of several research reports. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Piper Sandler boosted their target price on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lowered their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Truist Financial upped their price target on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Stock Down 2.0%

Shares of Citigroup stock traded down $1.86 during midday trading on Friday, reaching $91.84. 17,720,586 shares of the company's stock traded hands, compared to its average volume of 15,951,871. The company has a market cap of $171.53 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The company's 50 day simple moving average is $83.98 and its 200 day simple moving average is $76.86. 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 posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period last year, the business posted $1.52 EPS. Citigroup's revenue was up 8.2% compared to the same quarter last year. Equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's dividend payout ratio is presently 35.45%.

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.