OLD National Bancorp IN Purchases 80,871 Shares of Citigroup Inc. (NYSE:C)

OLD National Bancorp IN increased its position in shares of Citigroup Inc. (NYSE:C) by 32.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 330,535 shares of the company’s stock after buying an additional 80,871 shares during the period. OLD National Bancorp IN’s holdings in Citigroup were worth $20,976,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of C. Pinnacle Wealth Planning Services Inc. lifted its stake in Citigroup by 4.0% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after buying an additional 164 shares in the last quarter. NorthRock Partners LLC lifted its stake in Citigroup by 2.7% in the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after buying an additional 165 shares in the last quarter. Family Legacy Inc. lifted its stake in Citigroup by 2.9% in the first quarter. Family Legacy Inc. now owns 6,330 shares of the company’s stock valued at $400,000 after buying an additional 179 shares in the last quarter. Accel Wealth Management lifted its stake in Citigroup by 3.9% in the first quarter. Accel Wealth Management now owns 4,919 shares of the company’s stock valued at $311,000 after buying an additional 185 shares in the last quarter. Finally, Fulton Bank N.A. lifted its stake in Citigroup by 1.4% in the second quarter. Fulton Bank N.A. now owns 13,984 shares of the company’s stock valued at $887,000 after buying an additional 187 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

C traded down $0.17 on Friday, hitting $57.83. 11,419,459 shares of the stock were exchanged, compared to its average volume of 15,077,447. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The business has a 50-day moving average of $62.48 and a two-hundred day moving average of $60.32. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95. The firm has a market capitalization of $110.31 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 0.68 and a beta of 1.46.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share 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 business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. During the same quarter in the prior year, the business posted $1.37 earnings per share. Citigroup’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid 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 yield of 3.87%. Citigroup’s payout ratio is presently 62.75%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on C shares. Argus lifted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Morgan Stanley lifted their price objective on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Oppenheimer lifted their price objective on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Piper Sandler boosted their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price 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.