Thornburg Investment Management Inc. Acquires 452,840 Shares of Citigroup Inc. (NYSE:C)

Thornburg Investment Management Inc. grew its holdings in Citigroup Inc. (NYSE:C) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,896,725 shares of the company’s stock after buying an additional 452,840 shares during the quarter. Citigroup comprises 7.3% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Thornburg Investment Management Inc.’s holdings in Citigroup were worth $555,850,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of C. American Century Companies Inc. grew its stake in shares of Citigroup by 3.4% during the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after purchasing an additional 11,674 shares during the period. Invesco Ltd. boosted its holdings in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after buying an additional 1,970,300 shares in the last quarter. Candriam S.C.A. grew its position in Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after buying an additional 22,657 shares during the period. Brighton Jones LLC increased its holdings in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in shares of Citigroup by 22.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 319,669 shares of the company’s stock valued at $22,502,000 after acquiring an additional 58,204 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

C opened at $75.66 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The company has a 50-day moving average of $68.12 and a 200-day moving average of $71.92. The company has a market capitalization of $141.31 billion, a P/E ratio of 12.72, a PEG ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is presently 35.39%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on C shares. TD Cowen started coverage on Citigroup in a research report on Thursday. They issued a “hold” rating and a $83.00 target price on the stock. Oppenheimer raised their target price on Citigroup from $91.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Piper Sandler restated an “overweight” rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.97.

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by insiders.

Citigroup Company 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.