OLD National Bancorp IN Increases Stock Holdings in Citigroup Inc. (NYSE:C)

OLD National Bancorp IN lifted its stake in Citigroup Inc. (NYSE:C) by 32.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 330,535 shares of the company’s stock after purchasing an additional 80,871 shares during the quarter. OLD National Bancorp IN’s holdings in Citigroup were worth $20,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP boosted its holdings in Citigroup by 23.8% during the 4th quarter. Allworth Financial LP now owns 16,701 shares of the company’s stock valued at $859,000 after acquiring an additional 3,207 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in Citigroup by 14.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 19,069 shares of the company’s stock valued at $981,000 after acquiring an additional 2,459 shares during the period. CENTRAL TRUST Co boosted its holdings in Citigroup by 5.6% during the 4th quarter. CENTRAL TRUST Co now owns 3,841 shares of the company’s stock valued at $198,000 after acquiring an additional 205 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Citigroup by 8.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 399,514 shares of the company’s stock valued at $20,551,000 after acquiring an additional 29,979 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in Citigroup by 40.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 867 shares of the company’s stock valued at $45,000 after acquiring an additional 250 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.3 %

Shares of C traded down $0.17 during trading hours on Friday, hitting $57.83. The company had a trading volume of 11,419,459 shares, compared to its average volume of 15,077,447. The company has a market capitalization of $110.31 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. The company has a current ratio of 0.94, a quick ratio of 0.95 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The company’s fifty day moving average price is $62.48 and its two-hundred day moving average price is $60.32.

Citigroup (NYSE:C) last released its quarterly 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 return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. During the same period in the previous year, the company posted $1.37 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.87%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. Citigroup’s payout ratio is 62.75%.

Analyst Upgrades and Downgrades

C has been the subject of a number of recent analyst reports. Oppenheimer boosted their price objective on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Argus lifted their target price on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler lifted their target price on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods lifted their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Finally, Morgan Stanley lifted their target price on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.06.

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.