Citigroup Inc. $C Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its holdings in Citigroup Inc. (NYSE:C) by 53.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 122,253 shares of the company’s stock after selling 140,794 shares during the quarter. OLD National Bancorp IN’s holdings in Citigroup were worth $14,266,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elmwood Wealth Management Inc. lifted its position in Citigroup by 1.3% during the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after acquiring an additional 85 shares during the period. Park Place Capital Corp raised its stake in shares of Citigroup by 16.7% during the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after purchasing an additional 85 shares during the last quarter. LeConte Wealth Management LLC raised its stake in shares of Citigroup by 3.9% during the fourth quarter. LeConte Wealth Management LLC now owns 2,502 shares of the company’s stock worth $292,000 after purchasing an additional 94 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Citigroup by 0.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 15,411 shares of the company’s stock worth $1,870,000 after purchasing an additional 97 shares during the period. Finally, Boltwood Capital Management grew its position in Citigroup by 2.6% in the 4th quarter. Boltwood Capital Management now owns 3,893 shares of the company’s stock valued at $454,000 after buying an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $131.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Oppenheimer lifted their target price on shares of Citigroup from $132.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. cut their price target on shares of Citigroup from $134.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Piper Sandler restated an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group began coverage on Citigroup in a report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.94.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Q1 revenue strength: Citigroup reported decade?high Q1 revenues and continued broad-based growth, supporting the narrative that its turnaround is gaining traction after recent earnings beats. Citigroup Q1 Revenues Hit Decade-High
• Positive Sentiment: Wealth?tech investment: Citi is rolling out an AI avatar named “Sky” for wealth advisers — a strategic, scalable tech bet that could improve advisor productivity and help grow fee-based wealth revenues if adoption is strong. Citi Is Launching an AI Avatar Named Sky
• Positive Sentiment: Client perks and product moves: Citi expanded Citigold private?client services via education?planning partnerships — a small but relevant initiative to deepen retail/high?net?worth client relationships and cross?sell. Citi Enhances Citigold Private Client Experience
• Neutral Sentiment: Debt tender offers: Citigroup Global Markets launched offers to purchase three series of outstanding Citigroup notes (cash tender) — a capital?management move investors should watch for effects on liquidity and interest expense but not an immediate earnings surprise. Citi Announces Offers to Purchase Three Series of Notes
• Neutral Sentiment: Ownership disclosure in Belgium: Citigroup filed a participation notification showing it crossed a 3% threshold in Solvay under Belgian transparency rules — a regulatory/ownership disclosure with limited near?term impact on C’s share price. Participation notification by Citigroup Inc.
• Negative Sentiment: Insider selling: Citigroup insider Edward Skyler sold 25,000 shares (filed April 15) at roughly $131.41 — a sizable single insider sale that can weigh on sentiment, especially in a stock with recent strong run?up. SEC Filing: Insider Sale by Edward Skyler

Insider Activity at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the transaction, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cantu Ernesto Torres sold 43,173 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $111.09, for a total value of $4,796,088.57. Following the completion of the sale, the insider directly owned 45,835 shares in the company, valued at approximately $5,091,810.15. The trade was a 48.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,318 shares of company stock valued at $10,764,814 over the last 90 days. Insiders own 0.11% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $129.19 on Thursday. The firm has a market capitalization of $221.54 billion, a PE ratio of 15.99, a P/E/G ratio of 0.59 and a beta of 1.11. Citigroup Inc. has a 52 week low of $65.78 and a 52 week high of $135.29. The firm’s 50-day simple moving average is $115.19 and its 200 day simple moving average is $110.94. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $1.96 EPS. On average, equities research analysts predict that Citigroup Inc. will post 10.62 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is 29.74%.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.