Thurston Springer Miller Herd & Titak Inc. Sells 47,324 Shares of Citigroup Inc. (NYSE:C)

Thurston Springer Miller Herd & Titak Inc. trimmed its stake in Citigroup Inc. (NYSE:C) by 91.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,476 shares of the company’s stock after selling 47,324 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Citigroup were worth $315,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Citigroup in the 3rd quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Citigroup in the second quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third quarter valued at approximately $31,000. GHP Investment Advisors Inc. boosted its stake in shares of Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after acquiring an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Citigroup by 69.3% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 0.3 %

C stock opened at $78.51 on Friday. The company has a market cap of $148.47 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 52 week low of $50.51 and a 52 week high of $79.25. The business has a 50-day simple moving average of $70.78 and a 200 day simple moving average of $65.32.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 5.88 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is presently 64.93%.

Citigroup declared that its board has initiated a share buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on C shares. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.