Name of opportunity: 👀
Citigroup
Continued cuts: ✂️
Jane Fraser, CEO of Citigroup, has been making significant changes to the banking and financial services company since she started, streamlining operations in order to boost profitability. The restructuring, codenamed Project Bora Bora, will cut 20,000 jobs in the next two years. Fraser’s management of Citigroup has been praised by influential investor Warren Buffett, who said in January this year that she should continue simplifying the business.
In the latest news on this, Citigroup has now made a deal to sell its global fiduciary and trust administration services business Citi Trust to JTC Group, a provider of fund management services. Citigroup stock has gone up today by 0.90% so far.
How hot is this investment opportunity? 🔥🔥🔥
Analysts predict the price of Citigroup Inc. will increase from $58.02 to $66.63 in the next 12 months. If you invested $1000, you might profit $144.09.
Analysts are currently describing Citigroup stock as undervalued, meaning that they think now could be a good time to buy, as they predict the stock will go up to a price that more accurately reflects its true potential.
Citigroup is also reportedly planning share buybacks, a tactic which increases the value of the shares left on the market because the supply is reduced.
Citigroup's ‘Above Average’ dividend yield is another reason some analysts are recommending this stock. The yield of 3.68% offers steady income for investors. If you invested $1000, you would be paid $36.80 a year in dividends (based on the last 12 months).
Major player in the financial sector: 🏦
By assets, Citigroup is the third largest bank in the United States. It is considered to be ‘a systemically important financial institution’ (SIFI) by the Financial Stability Board, meaning that the board would consider the failure of Citibank to be a risk factor that could cause a financial crisis. It provides a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
Which neme?: 🔍
‘Banks’, ‘Female Leaders’, and ‘Copy Warren Buffett’
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