Thurston Springer Miller Herd & Titak Inc. Acquires New Stake in Citigroup Inc. (NYSE:C)

Thurston Springer Miller Herd & Titak Inc. purchased a new position in Citigroup Inc. (NYSE:C) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,710 shares of the company’s stock, valued at approximately $109,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in Citigroup in the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC acquired a new position in Citigroup in the 4th quarter worth approximately $29,000. Beacon Capital Management LLC boosted its stake in Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after purchasing an additional 569 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in Citigroup in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

C traded up $0.34 during trading on Tuesday, hitting $56.55. The stock had a trading volume of 16,640,505 shares, compared to its average volume of 15,045,321. The firm has a market cap of $107.87 billion, a PE ratio of 15.84, a P/E/G ratio of 0.68 and a beta of 1.46. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47. The company has a 50 day simple moving average of $62.88 and a 200-day simple moving average of $60.30.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter last year, the firm posted $1.37 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.96%. Citigroup’s payout ratio is presently 62.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Oppenheimer raised their price objective on shares of Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Evercore ISI lifted their target price on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. BMO Capital Markets lifted their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley lifted their target price on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler lifted their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

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.