Thurston Springer Miller Herd & Titak Inc. Has $554,000 Stake in Citigroup Inc. $C

Key Points

• Thurston Springer Miller Herd & Titak Inc. reduced its stake in Citigroup Inc. by 88.4%, leaving it with 6,505 shares valued at approximately $554,000 as of the end of the recent quarter.
• Citigroup's stock is receiving positive outlooks from analysts, with target prices increasing, including a boost to $107.00 from Morgan Stanley and a target of $105.00 from Truist Financial.
• The company recently announced a quarterly dividend increase to $0.60 per share, reflecting an annual yield of 2.4% and a dividend payout ratio of 35.45%.

Thurston Springer Miller Herd & Titak Inc. reduced its stake in Citigroup Inc. (NYSE:C - Free Report) by 88.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,505 shares of the company's stock after selling 49,448 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Citigroup were worth $554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after purchasing an additional 2,539,769 shares during the last quarter. Northern Trust Corp boosted its position in shares of Citigroup by 1.0% in the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after purchasing an additional 195,013 shares during the last quarter. Invesco Ltd. lifted its holdings in Citigroup by 3.6% during the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after acquiring an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Finally, Amundi lifted its holdings in Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after acquiring an additional 6,026,268 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Morgan Stanley lifted their target price on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler boosted their price target on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Truist Financial boosted their price target on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.96.

Citigroup Stock Performance

Shares of Citigroup stock opened at $99.89 on Tuesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The stock's 50-day moving average is $93.88 and its 200-day moving average is $80.02. The firm has a market cap of $183.89 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.85 and a beta of 1.41. Citigroup Inc. has a one year low of $55.51 and a one year high of $100.17.

Citigroup (NYSE:C - Get Free Report) last released 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. The business had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.Citigroup's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were given a $0.60 dividend. 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 2.4%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is presently 35.45%.

Insider Activity

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

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.

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