Mediolanum International Funds Ltd Invests $10.30 Million in Citigroup Inc. (NYSE:C)

Mediolanum International Funds Ltd purchased a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 146,614 shares of the company’s stock, valued at approximately $10,295,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Citigroup during the fourth quarter valued at approximately $175,000. OLD National Bancorp IN grew its stake in shares of Citigroup by 3.4% in the 4th quarter. OLD National Bancorp IN now owns 371,586 shares of the company’s stock worth $26,156,000 after buying an additional 12,120 shares during the last quarter. Busey Bank increased its position in Citigroup by 3.0% during the 4th quarter. Busey Bank now owns 189,779 shares of the company’s stock valued at $13,359,000 after buying an additional 5,572 shares in the last quarter. BDF Gestion raised its stake in Citigroup by 57.1% during the fourth quarter. BDF Gestion now owns 95,564 shares of the company’s stock valued at $6,727,000 after buying an additional 34,719 shares during the last quarter. Finally, Gries Financial LLC boosted its holdings in Citigroup by 5.9% in the fourth quarter. Gries Financial LLC now owns 5,985 shares of the company’s stock worth $421,000 after acquiring an additional 336 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the subject of several analyst reports. Oppenheimer reduced their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Evercore ISI increased their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

Shares of NYSE:C opened at $81.43 on Friday. 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 stock has a market capitalization of $154.01 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The firm’s 50 day moving average price is $73.67 and its 200-day moving average price is $66.64. Citigroup Inc. has a twelve month low of $52.24 and a twelve month high of $82.77.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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 business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the company posted $0.84 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 7.51 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its board has authorized a share buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors 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.