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

OLD National Bancorp IN lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 371,586 shares of the company’s stock after acquiring an additional 12,120 shares during the period. Citigroup makes up 0.6% of OLD National Bancorp IN’s investment portfolio, making the stock its 28th largest position. OLD National Bancorp IN’s holdings in Citigroup were worth $26,156,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the third quarter valued at $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup during the 2nd quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the 3rd quarter worth about $31,000. Webster Bank N. A. boosted its stake in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Finally, GHP Investment Advisors Inc. grew its holdings in Citigroup by 184.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on C shares. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Oppenheimer dropped their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Morgan Stanley lifted their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Stock Performance

Shares of NYSE C opened at $80.66 on Thursday. The firm’s 50-day moving average price is $73.18 and its 200-day moving average price is $66.42. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77. The company has a market cap of $152.54 billion, a PE ratio of 13.56, a PEG ratio of 0.65 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 1.50.

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

Citigroup Announces Dividend

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

Citigroup announced that its Board of Directors has authorized a stock repurchase program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Citigroup 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.