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Citigroup Inc. and its affiliates submitted Supplement - C-031165 to the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, with the notification received on March 31, 2025. The document was published by Citigroup on the same date and is available for review.
Morgan Stanley, Citi, and Goldman Sachs have all raised their gold price forecasts, with expectations of prices reaching $3,300 to $3,500 per ounce in the near term, driven by strong physical demand and macroeconomic factors. Goldman Sachs even suggests a potential rise above $4,200 per ounce by late 2025 under severe market stress. As gold prices hover around $3,121.44, analysts emphasize the importance of sustaining physical demand and the impact of interest rate trends on future growth.
Citigroup Global Markets Holdings Inc. warns investors of significant risks associated with their securities, which are linked to multiple underlyings. Investors may lose some or all of their investment, and contingent coupon payments are contingent on the lowest performing underlying meeting specific thresholds. The securities are not listed on exchanges, may be automatically redeemed before maturity, and their value is subject to volatility and credit risks.
Tishman Speyer has secured $166 million in construction financing for Edgemere Commons A2, a 100% affordable housing project featuring 244 units in Far Rockaway, Queens. Citigroup's Citi Community Capital provided an $80 million construction letter of credit, while Hudson Housing Capital contributed through Low-Income Housing Tax Credits, backed by HSBC. The financing is managed by New York State Homes and Community Renewal (HCR).
Charles Schwab Investment Management Inc. increased its stake in Reddit to 503,321 shares, valued at $33.2 million, while several firms, including Cerity Partners LLC and Daiwa Securities Group Inc., acquired new positions in the company during the third quarter. Wells Fargo & Company lowered its price target for Reddit from $215 to $158, maintaining an "overweight" rating, while other analysts have varied opinions, with a consensus rating of "Moderate Buy" and an average target price of $163. Reddit's stock opened at $107.57, with a market cap of $19.46 billion.
Alabama Attorney General Steve Marshall praised Wells Fargo's decision to withdraw from its sustainability goals under the Net-Zero Banking Alliance, viewing it as a victory against environmental social governance policies. This move exempts Wells Fargo from an 18-state investigation into potential antitrust violations related to net-zero emissions policies, while other major banks that left the alliance have not publicly disavowed its targets. In contrast, Investor Advocates for Social Justice criticized the decision as a setback in the fight against climate change, emphasizing the need for financial institutions to take responsibility for their environmental impact.
Citigroup Inc. reported a quarterly EPS of $1.34, surpassing estimates, with revenue of $19.58 billion, a 12.3% increase year-over-year. The company declared a quarterly dividend of $0.56, yielding 3.19%, and announced a $20 billion stock repurchase plan. Analysts maintain a "Moderate Buy" rating, with a consensus price target of $84.50.
MarketBeat highlights five stocks recommended by top analysts, excluding Citigroup, which holds a Moderate Buy rating. Despite recent insider sales, Citigroup has seen upgrades from Barclays and Bank of America, with a consensus target price of $84.50. The company operates across various financial services, including banking and wealth management.
Deutsche Bank has appointed Raja Akram as its new Chief Financial Officer, succeeding James von Moltke, who will continue to oversee the bank's financial strategy until June 2026. Akram, currently Deputy CFO at Morgan Stanley, will officially take on the role in 2026, bringing extensive experience from Citigroup and Morgan Stanley. The bank's leadership transition aims to enhance its growth strategy, with key executives' contracts extended for continuity.
Citigroup reported quarterly earnings of $1.34 per share, exceeding estimates, with revenue of $19.58 billion, a 12.3% year-over-year increase. The company announced a quarterly dividend of $0.56 per share and a $20 billion stock buyback program, indicating management's belief in the stock's undervaluation. Insider sales included significant transactions by COO Anand Selvakesari and Sara Wechter, reflecting a decrease in their ownership stakes.
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Citigroup issues supplement C-031165 notification to financial authority in Luxembourg
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