Thornburg Investment Management Inc. Has $686.61 Million Holdings in Citigroup Inc. $C

Thornburg Investment Management Inc. boosted its position in shares of Citigroup Inc. (NYSE:C) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,066,349 shares of the company’s stock after acquiring an additional 176,331 shares during the period. Citigroup accounts for about 8.8% of Thornburg Investment Management Inc.’s holdings, making the stock its 3rd biggest position. Thornburg Investment Management Inc.’s holdings in Citigroup were worth $686,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of C. Onyx Bridge Wealth Group LLC boosted its holdings in Citigroup by 3.6% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock valued at $265,000 after purchasing an additional 109 shares during the period. Fullcircle Wealth LLC raised its position in shares of Citigroup by 0.9% in the second quarter. Fullcircle Wealth LLC now owns 13,097 shares of the company’s stock worth $1,206,000 after buying an additional 111 shares in the last quarter. Secure Asset Management LLC boosted its stake in Citigroup by 3.7% during the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock valued at $280,000 after buying an additional 118 shares during the period. Golden State Equity Partners lifted its position in Citigroup by 0.6% during the second quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock valued at $1,842,000 after purchasing an additional 122 shares during the last quarter. Finally, Altman Advisors Inc. boosted its holdings in shares of Citigroup by 0.4% in the 2nd quarter. Altman Advisors Inc. now owns 30,979 shares of the company’s stock worth $2,673,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.4%

C opened at $101.10 on Wednesday. Citigroup Inc. has a one year low of $55.51 and a one year high of $105.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day simple moving average of $99.75 and a two-hundred day simple moving average of $91.57. The firm has a market capitalization of $180.90 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.83 and a beta of 1.37.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.35. The firm had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s payout ratio is presently 33.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Piper Sandler raised their price objective on Citigroup from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Dbs Bank lowered Citigroup from a “moderate buy” rating to a “hold” rating in a research report on Monday, September 22nd. Cowen reaffirmed a “hold” rating and issued a $110.00 price target on shares of Citigroup in a research note on Wednesday, October 15th. The Goldman Sachs Group reiterated a “buy” rating and issued a $118.00 price objective on shares of Citigroup in a research report on Tuesday, October 14th. Finally, Bank of America raised their target price on shares of Citigroup from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.70.

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.