Thornburg Investment Management Inc. Has $935.58 Million Stake in Citigroup Inc. $C

Thornburg Investment Management Inc. lessened its stake in Citigroup Inc. (NYSE:C) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.’s holdings in Citigroup were worth $935,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Richards Merrill & Peterson Inc. bought a new stake in shares of Citigroup in the fourth quarter worth $28,000. Luken Investment Analytics LLC acquired a new position in Citigroup in the fourth quarter worth $32,000. High Note Wealth LLC boosted its holdings in Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the period. Entrust Financial LLC acquired a new position in Citigroup in the fourth quarter worth $34,000. Finally, Cornerstone Financial Management LLC acquired a new position in Citigroup in the fourth quarter worth $34,000. Institutional investors own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This 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 insiders.

Citigroup Price Performance

Shares of NYSE C opened at $139.68 on Monday. Citigroup Inc. has a fifty-two week low of $76.11 and a fifty-two week high of $141.12. The firm’s 50-day simple moving average is $127.34 and its 200 day simple moving average is $118.19. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a market cap of $238.23 billion, a P/E ratio of 17.31, a P/E/G 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 for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup announced that its Board of Directors has authorized a share buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of research firms have commented on C. Morgan Stanley lifted their price objective on shares of Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. The Goldman Sachs Group lifted 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. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.62.

Key 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

About Citigroup

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.