OLD National Bancorp IN Acquires 12,120 Shares of Citigroup Inc. (NYSE:C)

OLD National Bancorp IN grew its holdings in Citigroup Inc. (NYSE:C) by 3.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 371,586 shares of the company’s stock after purchasing an additional 12,120 shares during the period. Citigroup makes up about 0.6% of OLD National Bancorp IN’s portfolio, making the stock its 28th biggest position. OLD National Bancorp IN’s holdings in Citigroup were worth $26,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Franklin Resources Inc. increased its holdings in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Swedbank AB increased its holdings in Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after purchasing an additional 1,865,628 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Citigroup by 103.6% in the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after buying an additional 1,410,950 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

C has been the topic of a number of research reports. Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods raised their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Up 0.9 %

Citigroup stock opened at $80.66 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $152.54 billion, a PE ratio of 13.56, a PEG ratio of 0.65 and a beta of 1.43. The firm’s fifty day moving average is $73.18 and its 200 day moving average is $66.42. Citigroup Inc. has a 12-month low of $52.24 and a 12-month high of $82.77.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup declared that its board has authorized a share repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.78%. Citigroup’s dividend payout ratio is 37.65%.

About Citigroup

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.