C - Citigroup Inc.

NYSE - NYSE Delayed price. Currency in USD
69.43
-3.10 (-4.27%)
At close: 4:03PM EST

69.73 +0.30 (0.43%)
After hours: 7:59PM EST

Stock chart is not supported by your current browser
Previous close72.53
Open72.63
Bid69.54 x 1000
Ask69.73 x 1000
Day's range69.00 - 73.21
52-week range60.05 - 83.11
Volume27,445,228
Avg. volume12,003,067
Market cap146.254B
Beta (5Y monthly)1.77
PE ratio (TTM)8.64
EPS (TTM)8.04
Earnings date14 Apr 2020
Forward dividend & yield2.04 (2.81%)
Ex-dividend date30 Jan 2020
1y target est92.08
  • Business Wire

    Citigroup Announces Redemption of Series O Preferred Stock

    Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Depositary Shares representing interests in its 5.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series O (the "Preferred Stock").

  • Goldman, Citi among banks curbing Italy trips over coronavirus fears - sources
    Reuters

    Goldman, Citi among banks curbing Italy trips over coronavirus fears - sources

    LONDON/MILAN (Reuters) - Goldman Sachs, JPMorgan, Citigroup Inc, Credit Suisse and other banks have curbed trips to Italy amid fears that the coronavirus outbreak across the north of the country could quickly spread across Europe, sources said. Lazard, BNP Paribas and Deutsche Bank also rushed to warn staff against all "non-essential travel" to northern Italy, four sources told Reuters, speaking on condition of anonymity as banking policies are confidential.

  • Citi Shuffles Top Investment Bankers in Power, Financials
    Bloomberg

    Citi Shuffles Top Investment Bankers in Power, Financials

    (Bloomberg) -- Citigroup Inc. is shuffling the bankers overseeing two of its largest investment banking units as the firm seeks to boost revenue from advising and providing financing to corporations.The lender promoted Stefan Wintels, the head of its German unit, and Christian Anderson, who helps oversee the global asset manager group, to run its global financial institutions business. The firm also tapped Jack Paris and Philip ten Bosch to take over as co-heads of global power investment banking. The moves were announced in a trio of memos this week from Manolo Falco and Tyler Dickson, the co-heads of Citigroup’s global banking, capital markets and advisory division.“These appointments highlight the rich diversity of our talent pool,” Falco said in an emailed statement. “Our global network is not just about the pipes. It’s about the people.”Dickson and Falco have been moving around their unit’s leaders as they strive to increase investment banking revenue, and the pair also said they’re seeking to make selective external hires as part of the effort. The New York-based firm’s overall investment banking revenue climbed 4% to $5.22 billion in 2019.Wintels and Anderson replace Peter Babej, who was promoted in October to lead Citigroup’s Asia operations. Financial institutions contribute the largest component of client revenue to Citigroup’s investment banking arm and the firm has said it’s seeking to improve its standing within the financial sponsors industry.‘Steady Progress’“We are making steady progress but we are sure success won’t be a straight line,” Dickson said in a telephone interview. “We are doing the right thing, which is moving our best leaders across our businesses to our highest-priority areas.”Wintels for the last seven years has overseen Citigroup’s German subsidiary, which has grown as the U.S. bank is shifting assets and people to Frankfurt partly in reaction to the U.K.’s departure from the European Union. The unit acquired a broker-dealer license in 2018. Anderson was previously co-head of the global asset managers group, which focuses on private equity firms, pensions and sovereign wealth funds.Citi’s head of corporate banking for Germany and Austria, Stefan Hafke, is taking over as country head of Germany on an interim basis. The bank is also looking for someone to replace Wintels as head of investment banking Germany and Austria.Paris and ten Bosch led the power investment banking franchises in North America and Europe and Asia, respectively. The two will work closely with Sandip Sen, who continues in his current role as head of global power corporate banking and alternative energy, according to one memo.John Eydenberg, whom Citigroup hired last year from Deutsche Bank AG, will replace Anderson as co-head of the global asset managers group and will work alongside Anthony Diamandakis, who is relocating to New York.Citigroup also appointed Alvaro Revuelta and Jorge Ramos as co-heads of investment banking in the Iberia region of Spain, executives said in a separate memo, which noted the firm has nabbed the top ranking in the area for the last three years.(Adds Wintels’ succession at Germany unit in eight paragraph)To contact the reporters on this story: Steven Arons in Frankfurt at sarons@bloomberg.net;Jenny Surane in New York at jsurane4@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Josh Friedman, Christian BaumgaertelFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • IHS Hires JPMorgan, Citi for Record African IPO in U.S.
    Bloomberg

    IHS Hires JPMorgan, Citi for Record African IPO in U.S.

    (Bloomberg) -- Wireless towers operator IHS Holding Ltd. has hired banks to oversee what may be the biggest initial public offering of an African company in the U.S., according to people with knowledge of the matter.IHS Holding has selected Citigroup Inc. and JPMorgan Chase & Co. as global coordinators for a listing that could value Africa’s largest operator of wireless towers at as much as $7 billion, said the people. The Mauritius-based company is leaning toward a New York IPO which could happen as soon as the first half of the year, they said.While Citigroup and JPMorgan have top spots on the IPO, other lenders will likely be added to the syndicate, said the people, who asked not to be identified because the information is private. No final decisions have been taken and the timeline could be pushed back, depending on market conditions.Representatives for IHS, Citigroup and JPMorgan declined to comment.The company would prefer a U.S. listing to London in part because some of the largest tower companies such as American Tower Corp. and Crown Holdings Inc. are based there and trade at higher valuation multiples, the people said. At a valuation of up to $7 billion, it would be the biggest listing of an African company in the U.S., according to data compiled by Bloomberg.IHS, whose owners include Goldman Sachs Group Inc and South African wireless carrier MTN Group Ltd., started reviving work on a share sale late last year after scrapping plans back in 2018 due to uncertainty around a presidential vote in Nigeria, its main market, Bloomberg News reported at the time.With operations in Nigeria and other African countries, IHS was seeking to raise about $1 billion in New York, people familiar with the matter said at the time. A Nigerian court last year upheld President Muhammadu Buhari’s election victory, dismissing a challenge by the main opposition candidate.The company expanding its network of about 24,000 towers as growing African populations demand cheaper and faster mobile connections. It tapped the debt market for $1.3 billion last year.The company plans to enter new markets in the Middle East and Southeast Asia to bulk up ahead of a potential attempt to sell shares in either New York or London, Chief Executive Officer Sam Darwish said in an interview in April last year.\--With assistance from Swetha Gopinath and Archana Narayanan.To contact the reporters on this story: Dinesh Nair in London at dnair5@bloomberg.net;Myriam Balezou in London at mbalezou@bloomberg.net;Loni Prinsloo in Johannesburg at lprinsloo3@bloomberg.netTo contact the editor responsible for this story: Dinesh Nair at dnair5@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    Citi, Credit Suisse among banks curbing Italy trips on coronavirus fears - sources

    LONDON/MILAN, Feb 25 (Reuters) - Investment banks including Citigroup Inc, Credit Suisse and Nomura Holdings Inc have curbed trips to Italy on fears that the coronavirus outbreak across the north of the country could quickly spread across Europe, four sources told Reuters. Citi has told staff heading to Italy's financial capital Milan or other northern cities to postpone their trips or seek approval from top management if they are working on sensitive deals, the sources said, speaking on condition of anonymity as banking policies are confidential.

  • Gold’s ‘Cold Blooded’ Gain Shows Virus-Induced Rush Into Havens
    Bloomberg

    Gold’s ‘Cold Blooded’ Gain Shows Virus-Induced Rush Into Havens

    (Bloomberg) -- Investors are rushing to the safety of gold amid a selloff in U.S. stocks on mounting concerns the coronavirus outbreak will derail global growth.Gold jumped as much as 2%, extending its climb to a seven-year high, as the S&P 500 Index headed for its first weekly loss since January. In a sign that the virus is starting to dent the world’s largest economy, business activity in the U.S. shrank in February for the first time since 2013 with the pandemic disrupting supply chains.“The persistent, cold-blooded and measured shift in gold higher, despite the U.S. dollar, is telling,” Nicky Shiels, a metals strategist at Bank of Nova Scotia, said in emailed message. “The breakout is warranted and has legs.”Gold futures for April delivery rose 1.7% to settle at $1,648.80 an ounce at 1:30 p.m. on the Comex in New York, the highest closing price for a most-active contract since mid-February 2013. The metal notched a 3.9% gain this week, the biggest increase since June. The rush to haven assets also sent Treasury yields tumbling.“Gold is in the midst of its perfect storm,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S.Prices of bullion in euros and Australian and Canadian dollars climbed to records. Holdings in gold-backed exchange traded funds climbed for 22 straight sessions through Thursday, the longest ever run, according to data compiled by Bloomberg. And the amount of call options traded in a single day spiked to the highest ever in records dating to 1996, according to preliminary data.This stretch of inflows “certainly gives an indication about concerns around the global economy,” Andrew Jamieson, global head of ETF product at Citigroup Inc. in London, said in an interview with Bloomberg TV.The outbreak has worsened outside of China, with cases in South Korea climbing past 200, while tallies for Singapore and Japan topped 85. A jump in coronavirus cases in Iran is also raising concern. Chinese authorities adjusted the number of cases for the third time this month, raising more questions over the reliability of the data.In more than half of the world’s 20 biggest economies, analysts now expect looser budgets this year — in other words, bigger deficits or smaller surpluses — than they did six months ago, according to a Bloomberg survey of economist forecasts.The Commonwealth Bank of Australia expects the Federal Reserve to ease twice in the second half of the year as the virus threatens the global economy.Still, lower U.S. yields and weaker equities could push gold prices further toward $1,750 an ounce even if the coronavirus is contained during the first quarter, according to Goldman Sachs Group Inc.If the outbreak stretches beyond that, “we see substantially more upside from here -- toward $1,850 an ounce, depending on the magnitude of the global monetary policy response,” the bank said in a note Friday.Silver futures also climbed on the Comex. On the New York Mercantile Exchange, palladium futures rose while platinum futures declined.\--With assistance from Yvonne Yue Li, Elena Mazneva and Ranjeetha Pakiam.To contact the reporters on this story: Luzi Ann Javier in New York at ljavier@bloomberg.net;Justina Vasquez in New York at jvasquez57@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Luzi Ann Javier, Joe RichterFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Investing.com

    Gold Hits New 7-Year High as Virus Prompts More Upgrades

    Gold prices surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China. The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data). By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker below the intraday high of $1,639.25.

  • Business Wire

    Citi Appointed Depositary Bank for Huize Holding Limited’s Sponsored ADS Program

    Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Huize Holding Limited (Huize), a leading independent online insurance product and service platform in China, as the depositary bank for its American Depositary Receipt (ADS) program.

  • Top Ranked Value Stocks to Buy for February 20th
    Zacks

    Top Ranked Value Stocks to Buy for February 20th

    Top Ranked Value Stocks to Buy for February 20th

  • Business Wire

    Charities and Young Leaders Win at Citi Foundation Supported London Impact Awards

    Three charities have been recognised for their outstanding work supporting young people affected by or at risk of violence in London. The Ben Kinsella Trust, StreetDoctors and XLP were all named category winners at the London Impact Awards on Wednesday 19 February, each winning a £30,000 grant to support their work in the capital.

  • SoftBank Climbs on Plan to Borrow $4.5 Billion Via Telecom Stock
    Bloomberg

    SoftBank Climbs on Plan to Borrow $4.5 Billion Via Telecom Stock

    (Bloomberg) -- SoftBank Group Corp.’s stock climbed after it unveiled plans to borrow as much as 500 billion yen ($4.5 billion) by putting up shares of its Japanese telecom unit as collateral, raising capital for the investment giant’s operations.The money for the two-year loan, which will have a one-year extension option, will come from 16 financial institutions, SoftBank said in a statement. It pledged as much as 953 million shares of SoftBank Corp. and said the money will be used to fund operations. SoftBank Group’s stock rose as much as 3.6% in Tokyo, while the unit’s was little changed.Activist investor Paul Singer this month revealed his firm had acquired a stake of as much as $3 billion in SoftBank and has advocated for a share buyback of as much as $20 billion, along with governance changes and more transparency about its investments. SoftBank founder Masayoshi Son called Singer’s Elliott Management Corp. an “important partner” and said he is in broad agreement with the investor about SoftBank buybacks and share value.SoftBank will need to raise cash to meet those demands. Son is adopting a more conciliatory stance just as he’s struggling with the $100 billion Vision Fund, which made him the biggest investor in technology. The fund lost money in the three months ended in December, one quarter after the meltdown at WeWork triggered a record loss for the Japanese company. Son is trying to raise capital for a second fund, but last week said he is no longer targeting $108 billion and SoftBank may finance the effort on its own.“We sense that the stars are now aligned for the firm to conduct a buyback,” Citigroup Global Markets analyst Mitsunobu Tsuruo wrote. SoftBank “will be in a position to flexibly implement a buyback amounting to” about 5% of its market capitalization.Read more: SoftBank’s Son Considers a ‘Bridge’ Fund Before Vision Fund 2The past 12 months have been tumultuous for Son and SoftBank. A year ago, the company unveiled a record buyback, sparking a rally that pushed shares to the highest since its dot-com peak in 2000. Uber Technologies Inc.’s disappointing public debut and the implosion of WeWork wiped out the gains over the next few months. But SoftBank surged again this month after Singer disclosed his stake and Son won approval to sell his Sprint Corp. to T-Mobile US Inc.SoftBank has 13.75 trillion yen of interest-bearing debt, with more than 2.6 trillion yen of bonds coming due in the next three years. The company also had 3.8 trillion yen of cash and equivalents as of the end of December.To contact the reporter on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Edwin Chan, Colum MurphyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Business Wire

    Citi Leads Global Fixed Income Dealer Rankings: Greenwich Associates Milestone Marks 5th Consecutive Year That Citi Has Received This Designation

    For the fifth consecutive year, Citi has retained the top spot as the world’s largest fixed income dealer, according to Greenwich Associates’ annual benchmark study.

  • Investing.com

    Gold Hits Seven-Year High in Split Market

    By Geoffrey Smith

  • Citi, Deutsche start talks to sell $9 billion Dubai port company debt - sources
    Reuters

    Citi, Deutsche start talks to sell $9 billion Dubai port company debt - sources

    Citi and Deutsche Bank have started talks with other banks to sell roughly $9 billion in debt Dubai raised to take full control of DP World and refinance borrowings of Dubai World, sources familiar with the matter said on Wednesday. Dubai announced this week one of its state companies, Port and Free Zone World (PFZW), part of state investment vehicle Dubai World, aims to buy publicly listed shares of port operator DP World in a deal with a $13.9 billion valuation which will end up adding billions of dollars of debt to DP World's books. Citi and Deutsche Bank have underwritten roughly $9 billion of debt for the transaction and have started discussions with other lenders to decrease their exposure by distributing the debt, the sources said.

  • Citi, Deutsche start talks to sell $9 billion Dubai port company debt: sources
    Reuters

    Citi, Deutsche start talks to sell $9 billion Dubai port company debt: sources

    Citi and Deutsche Bank have started talks with other banks to sell roughly $9 billion in debt Dubai raised to take full control of DP World and refinance borrowings of Dubai World, sources familiar with the matter said on Wednesday. Dubai announced this week one of its state companies, Port and Free Zone World (PFZW), part of state investment vehicle Dubai World, aims to buy publicly listed shares of port operator DP World in a deal with a $13.9 billion valuation which will end up adding billions of dollars of debt to DP World's books. Citi and Deutsche Bank have underwritten roughly $9 billion of debt for the transaction and have started discussions with other lenders to decrease their exposure by distributing the debt, the sources said.

  • Business Wire

    Citigroup Global Head of Treasury and Trade Solutions Naveed Sultan to Present at the 2020 Credit Suisse Financial Services Forum

    Naveed Sultan, Global Head of Treasury & Trade Solutions of Citigroup, will present at the 2020 Credit Suisse Financial Services Forum on Friday, February 28, 2020. The presentation is expected to begin at approximately 8:00 a.m. (Eastern). A live webcast will be available at www.citigroup.com/citi/investor. A replay and transcript of the webcast will be available shortly after the event.

  • Citigroup (C) CEO Corbat's 2019 Compensation Kept Stable
    Zacks

    Citigroup (C) CEO Corbat's 2019 Compensation Kept Stable

    Citigroup's (C) chief executive officer's total compensation package for 2019 remains unchanged at $24 million.

  • Bloomberg

    HSBC Is No Man's Land for Quinn or Anyone Else

    (Bloomberg Opinion) -- HSBC Holdings Plc is embarking on a radical overhaul while it continues the hunt for a permanent chief executive. For investors, the strategic muddle of this bizarre situation should be at least as troubling as the stinging cuts, $7.3 billion of charges and suspension of buybacks that the bank announced with its earnings Tuesday.The London-based lender will cut as many as 35,000 jobs, reduce gross assets by more than $100 billion by 2022, shave annual costs by $4.5 billion and slash the size of its investment bank in Europe and U.S. in the biggest raft of changes for years. All this will be overseen by Interim Chief Executive Officer Noel Quinn pending the appointment of a permanent successor to John Flint, who was ousted last August.Quinn was left to present the plan even as HSBC declined to confirm him in the job. This is bad on two levels. First, it undercuts the authority and investor confidence that Quinn might otherwise be expected to enjoy, should he eventually be appointed. At the very least, the delay signals that the board has harbored doubts about his suitability. Second, going ahead with the revamp may impede the search for a replacement.Any chief executive worth his or her salt will expect to put a personal stamp on the company. But the biggest decisions have already been made. This reshaping will have Quinn’s fingerprints all over it. That may narrow the options for HSBC Chairman Mark Tucker. Stephen Bird, Citigroup Inc.’s former top executive in Asia and the leading external candidate for the job, already has ruled himself out, the U.K.’s Sunday Times reported last weekend, citing unidentified sources.HSBC might argue that waiting wasn’t an option after years of sub-par performance. “Parts of our business are not delivering acceptable returns,” Quinn said in Tuesday’s statement. HSBC will shift resources to higher-returning markets, while squeezing the cost base and exiting some business lines. “The current strategy is in no man’s land,” as one investor told Bloomberg News pre-earnings.No one could accuse HSBC of sparing the knife this time. The job cuts are equal to about 15% of the workforce. They’re also an answer to those who, like this writer, have criticized the bank for being overly timid in the past. Still, the overhaul may end up exacerbating some of the vulnerabilities they seek to address.The restructuring makes the bank even more hostage to the fortunes of Hong Kong and mainland China, two economies struggling with slowing growth aggravated by the coronavirus outbreak. Hong Kong was already the source of 90% of HSBC’s profit in the third quarter. The city is going to become an even more glaring presence in its books.Besides an economy in recession, competition is getting tougher for HSBC in the city, as online lenders backed by Tencent Holdings Ltd. and Alibaba Group Holding Ltd. prepare to launch this year. Hong Kong’s dominant bank has also had to navigate political minefields, including being the target of the public ire last year after it closed an account linked to pro-democracy protesters.China, meanwhile, remains a challenge. HSBC is still struggling  to extricate itself from Beijing’s bad books for providing U.S. prosecutors with information that led to the arrest of Huawei Technologies Co.’s  chief financial officer in late 2018. And disruption to supply chains from the virus outbreak may lead to more credit losses, the bank has said.That means it’s going to take a long time before HSBC achieves the returns Tucker seeks. While 2019 adjusted pretax profit of $22.2 billion beat analysts’ estimates, HSBC’s fourth-quarter return on tangible equity was a mere 8.4%. That’s much lower than the more than 11% target it abandoned in October. Even its new goal of 10%-12% by 2022 looks unambitious beside the 18% return of JPMorgan Chase & Co. HSBC shares closed 2.8% lower in Hong Kong after the earnings, the biggest decline in more than a year.Ultimately, HSBC’s biggest risk may be that Quinn’s cuts cause the lender to double down on greater China just as growth in this part of Asia is uncertain. Outside CEOs won’t be clamoring to steer this ship. Quinn may just be stuck with the job.  To contact the author of this story: Nisha Gopalan at ngopalan3@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Citigroup (C) is a Top Dividend Stock Right Now: Should You Buy?
    Zacks

    Citigroup (C) is a Top Dividend Stock Right Now: Should You Buy?

    Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Citigroup (C) have what it takes? Let's find out.

  • Citigroup mandated for Turkish gas distributor Enerya sale - sources
    Reuters

    Citigroup mandated for Turkish gas distributor Enerya sale - sources

    STFA Investment Holding and Swiss Partners Group Holding have mandated Citigroup for a potential sale of Enerya, a leading natural gas distributor in Turkey, three sources familiar with the matter told Reuters. STFA Investment Holding and Swiss Partners Group, which took a 30% stake in Enerya in 2014, declined to respond to questions on the plan. Citigroup Inc did not immediately respond to a request for comment.

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