Citigroup Inc. $C Holdings Decreased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lowered its position in Citigroup Inc. (NYSE:C) by 5.5% during the second quarter, Holdings Channel.com reports. The fund owned 7,546,686 shares of the company’s stock after selling 441,524 shares during the quarter. Citigroup accounts for 10.1% of Thornburg Investment Management Inc.’s holdings, making the stock its largest holding. Thornburg Investment Management Inc.’s holdings in Citigroup were worth $1,056,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock worth $5,036,712,000 after purchasing an additional 189,548 shares during the period. Franklin Resources Inc. lifted its stake in shares of Citigroup by 4.0% in the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after purchasing an additional 1,326,224 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock worth $3,954,307,000 after purchasing an additional 846,772 shares during the period. Bank of America Corp DE increased its position in Citigroup by 2.8% during the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock worth $3,047,215,000 after purchasing an additional 728,043 shares in the last quarter. Finally, Norges Bank acquired a new stake in Citigroup during the 4th quarter worth approximately $2,800,944,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

Citigroup Price Performance

C opened at $132.77 on Friday. Citigroup Inc. has a twelve month low of $92.96 and a twelve month high of $147.96. The firm has a market cap of $226.45 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.60 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The company has a fifty day simple moving average of $136.20 and a 200 day simple moving average of $126.81.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The firm had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 EPS. Equities research analysts expect that Citigroup Inc. will post 11.21 EPS for the current fiscal year.

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

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s dividend payout ratio is presently 28.94%.

Analysts Set New Price Targets

Several research analysts recently commented on C shares. Weiss Ratings upgraded shares of Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 24th. Bank of America boosted their price objective on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. increased their price objective on shares of Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Argus set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.22.

Citigroup Company Profile

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.