Citigroup 16-year bond YTM increases by 5.9 basis points 24 February 2021

NEWS BITES - BONDS

Citigroup bond (CUSIP: 172967EC1) price has decreased 83.20c (or 0.7%) from its last trading session of Monday February 22, 2021 to close at $125.16.

The bond matures in 16 years and 3 months; its yield to maturity (YTM) has increased by 5.9 basis points from 3.73% to 3.79%.

THE PAST WEEK

DayHeadlineYTM % (CUSIP)Close price [USD]Price change %Comment
Thursday, 18 February4-year bond YTM plummets by 13.2 basis points1.04 (172967AL5)128.210.5Price rise on rising relative strength
Friday, 19 February15-year bond YTM decreases by 3.2 basis points1.6 (172967DS7)88.060.4Price rise on rising relative strength
Monday, 22 February15-year bond YTM sinks by 9.2 basis points1.51 (172967DS7)89.261.4Top Rise
Tuesday, 23 February15-year bond YTM lifts by 5.1 basis points1.56 (172967DS7)88.77-0.5Steepest Fall

INDEX

SECTION 1 ISSUE DETAILS

SECTION 2 RELATIVE VALUATION INDICATORS [RVI] TECHNICALS: CITIGROUP 2037 BONDS

SECTION 3 KEY STATISTICS OF OTHER CITIGROUP BONDS

RECAP FROM STOCK REVIEW OF CITIGROUP INC UPDATED AT THE LAST PRICE OF $68.61

SECTION 4 BULLISH SIGNALS

SECTION 5 BEARISH SIGNALS

SECTION 6 ONGOING BULLISH PARAMETERS

SECTION 7 ONGOING BEARISH PARAMETERS

SECTION 8 Q4/2020 INSTITUTIONAL SHAREHOLDER ACTIVITY

SECTION 9 STOCK NEWS

SECTION 10 BOARD OF DIRECTORS

SECTION 11 CORPORATE PROFILE

SECTION 1 ISSUE DETAILS

CUSIP: 172967EC1

1.1 Maturity & Coupon details

IssuerCitigroup
Maturity DateMay 29, 2037
Amount Outstanding$1 billion
CallableNo
SEDOLB1XMDL1
Coupon5.88%
Coupon TypeFixed
Pay FrequencyHalf-yearly
Dated DateMay 29, 2007
First Coupon DateNovember 29, 2007
Interest Accrual DateMay 29, 2007

1.2 Price change % & YTM

Yield to maturity has increased by 47 basis points from a year ago to 3.79%.

1-day1-week1-month3-months1-year
Price Change %-0.7-1.7-8.8-6.2-8.4
YTM change Basis Points616385947
Spread to Treasuries %1.511.561.61.53

SECTION 2 RELATIVE VALUATION INDICATORS [RVI] TECHNICALS: CITIGROUP 2037 BONDS

2.1 Price Downtrend (or Yield Uptrend)

+ Falls to Rises in the past month: the number of daily price falls/yield increases outnumbered rises 5:3 or 1.7:1. The bond traded in 8 of the trading days.

2.2 Price Dynamics

+ The present value of $1,000 (PV$1000) invested one year ago in Citigroup 2037 Bonds is $916, for a capital loss of $84. The total return to investors for 1 year is -8.4%.

PV$10001-week1-month1-year
C.HFD.N$983$912$916

SECTION 3 KEY STATISTICS OF OTHER CITIGROUP BONDS

3.1 Maturity and YTM

MaturityYield to maturity %Yrs to Maturity
Jan to May 20251.01 to 1.333.87 to 4.23
Mar to Dec 20361.54 to 3.6815.03 to 15.77
May 20373.7916.26

RECAP FROM STOCK REVIEW OF CITIGROUP INC UPDATED AT THE LAST PRICE OF $68.61

Stock Review: Citigroup (C:$68.61) lifts 2.8% strengthening above moving average price, hits 41-day high

Citigroup Inc. (NYSE:C), the NYSE's 4th largest Bank by market cap, has lifted $1.87 (2.8%) from its previous trading session to close at $68.61. Compared with the S&P 500 Index which rose 43.6 points (1.1%) in the day, the relative price increase was 1.7%. Today the stock traded at its 41-day high of $68.68. The last time the price hit that level was on Jan 14.

The 200-day Moving Average Price (MAP) is $51.95, up from $51.83 on Tuesday. The price to MAP ratio is 1.32. In the last 3 months the share price has exceeded MAP on 60/60 days; a bullish signal. This is a second consecutive day of Price above MAP and P/MAP rising, a bullish signal.

There were 18,223,114 shares worth $1.3 billion traded today. The volume was 0.7 times the average daily trading volume of 27.2 million shares.

SECTION 4 BULLISH SIGNALS

4.1 Uptrend

The stock traded at a two-month high of $68.68 today.

Beta > 1 combined with price rise. The Beta of the stock is 1.7.

Price/Moving Average Price of 1.32 and positive MACD:

- The Price/MAP 200 of 1.32 for Citigroup is higher than the Price/MAP 200 for the S&P 500 Index of 0.95.

- The price to 200-day MAP ratio is 1.32, a bullish indicator. In the past 200 days this ratio has exceeded 1.32, seven times suggesting further upside. The stock is trading above both its MAPs and the 50-day MAP of $63.14 is higher than the 200-day MAP of $51.95, a bullish indicator. The 200-day MAP has increased to $51.95. An increase is another bullish indicator.

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 64.92 minus the 26-day EMA of 63.43 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

- The price to 50-day EMAP ratio is 1.1, a bullish indicator. In the past 50 days this ratio has exceeded 1.1, 17 times suggesting further upside. The 50-day EMAP has increased to $61.25. An increase is another bullish indicator.

Past Month:

- Rises to Falls: In the past month the number of rises outnumbered falls 15:7 or 2.1:1.

Past Quarter:

The Best 3 weeks in the past quarter

In the past quarter the week beginning Monday November 23 saw the highest weekly rise of 8.7% for a relative price increase of 6.4%.

Mon-FriChange %S&P 500 index Change %RPC %Vol Ind [1 is avg]
Nov 23-278.72.36.41.1
Feb 01-057.94.63.30.6
Jan 04-0861.84.20.9

Improving Relative Strength:

- The stock has a 6-month relative strength of 72 in the NYSE market of 1,808 stocks, 273 units and 111 preference stocks indicating it has outperformed 72% of the market.

- Also, the relative strength percentile is improving at 72 for 6 months, 78 for 3 months and 81 for 1 month.

4.2 High Price Performance Indicators and rank of Citigroup in the NYSE market:

DescriptionC ValueRank In Market
Today's Trading Turnover$1.3 billionIn Top 2%
Price/MAP2001.32In Top 22%
% Prem to Vol Wtd Price9.6In Top 23%

Price/Earnings:

Citigroup stock is trading at the third lowest P/E multiple in the S&P 500 Index.

Price/Earnings of 9.5 < sector avg of 13.6:

- Price/Earnings of 9.5 versus sector average of 13.6 and market average of 31.7.

Dividend Yield > Bond Yield of 1.34%:

The dividend yield of 2.97% is 2.22 times the triple-A bond yield of 1.34%. The times factor of 2.22 is above the benchmark factor of 0.67 times set by Benjamin Graham.

(All figures in %)

Dividend Yield2.97
Bond Yield1.34
Spread1.63

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Dividend Yield of 3% > Index avg of 1.4%:

- The relative yield of the stock, defined by its yield of 3%, divided by average yield of dividend yielding stocks in the S&P 500 Index of 1.4% is 216.8%. This suggests the stock is undervalued in dividend yield terms.

Brand Value/Enterprise Value:

- Brandirectory have estimated Citigroup brand value at $21.7 billion. The Brand Value represents 5.6% of the estimated Enterprise Value of $384.4 billion. Enterprise Value is defined as MCap of $142.8 billion plus net debt of $241.6 billion.

SECTION 5 BEARISH SIGNALS

- Return on Equity of 9.2% versus sector average of 10.2%.

- Net profit margin has averaged 13.9% in the last 3 years. This is lower than the sector average of 34.0% and suggests a low margin of safety.

- As per the Du Pont analysis, Return on Equity of 9.2% is lower than sector average of 10.2%. This is computed as net profit margin of 24.8% times asset turnover [sales/assets] of 0.04 times leverage factor [total assets/shareholders' equity] of 9.7.

5.1 Overbought/Bearish/Resistance Signals:

- At $68.61 the price has risen above the upper Bollinger band resistance of $68.54, indicating a downside risk for it to fall back within the band.

- The Relative Strength Index (RSI) of 80.1 has penetrated the overbought line of 70, suggesting the price gain of 9.9% in the last 14 days is unusually high.

- The stock is overbought according to the Williams % R indicator of -1.0, suggesting the price is close to its 14-day high of $68.68.

- The Money Flow Index [MFI] is 83.8 suggesting an overbought 14-day trend, being above 80. The Money Ratio of 5.2 suggests positive money flow was 5.2 times negative money flow.

SECTION 6 ONGOING BULLISH PARAMETERS

6.1 Present Value of $1000 Invested in the Past [3 Mo, 1 Yr, 3 Yrs]; The Best Periods with PV$1000 > 1,028

PV$1,0003 mo ago1 yr ago3 yrs ago
C.NYSE$1,223$1,029$1,079
Bank sector$1,220$1,081$942
S&P 500 Index$1,083$1,217$1,429

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6.2 Past quarter: price rise of 21.3%

3-Month price change of 21.3% for Citigroup outperformed the change of 8.1% in the S&P 500 index for a relative price change of 13.1%.

Price Change %Quarter
Citigroup21.3
Bank sector22
S&P 500 index8.1

6.3 Moving Annual Return of 1.5% in the past year:

Moving Annual Return was 1.5% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 20.2%. The Moving Annual Return has been positive in 4 of the last 5 years.

CClose ($)Dividends ($)Capital Gain / (Loss) %% YieldAnnual Return %
Feb 2468.612.04(1.4)2.91.5
1 Yr ago69.591.9816.23.319.6
2 Yrs ago59.861.67(14.7)2.4(12.3)
3 Yrs ago70.171.1228230.1
4 Yrs ago54.80.5860.31.762.0

Close 5 years ago $34.18

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6.4 MCap: 5-Year Increase of $29 billion

In the past 5 years Market Capitalization has increased by $29 billion (25%) from $113.9 billion to $142.8 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.

PriceMCap ($ B)
Last$68.61142.8
1 Year ago$69.59158.3
2 Years ago$59.86156.6
3 Years ago$70.17203.8
4 Years ago$54.80168.1
5 Years ago$34.18113.9

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6.5 Buybacks and 5-Years Decrease of 17.7% in Total Shares on Issue

In the past 5 years total shares on issue have decreased by 535.9 million (17.7%) from 3 billion to 2.5 billion. Buybacks have averaged 55.5 million shares [1.8%] per financial year. Based on a dynamic start date of 5 years ago, there have been declines in issued capital in 4 out of 5 years. A reduction in total shares on issue is a favourable indicator in Joseph Piotroski's 9 indicators.

Year End (Dec 31)Total Shares on IssueFYBuybacksBuyback %
20182,493,300,0002018--
20172,698,500,0002017189,600,0006.6%
20162,888,100,0002016115,900,0003.9%
20153,004,000,000201527,600,0000.9%
20143,031,600,0002014--
20133,029,242,9102013--
Total333,100,000
Average per FY55,516,667

6.6 Created Market Value [CMV] past 5 yrs of $22.1 billion

- Market Capitalization has increased by $25.1 billion from $117.7 billion to $142.8 billion in the last 5 years. This increase comprises cumulative retained earnings (RETE) of $3 billion and Created Market Value of $22.1 billion. The Created Market Value multiple, defined by the change in MCap for every $1 of retained earnings is exemplary at $8.34.

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6.7 Citigroup sees dividend rise for a sixth consecutive year

Citigroup reported dividends per share of $2.04 in the past year, up 3.0% from the previous year. This is the sixth consecutive dividend increase. In the past 6 years average annual compound growth rate of dividends was 102.0%.

6.8 Sequential growth in EPS [Q3/2020 vs Q2/2020] of 176.5%:

The most recent quarter (Q3/2020) showed a rise of 176.5% in sequential growth of Quarterly EPS.
Quarterly ReportEPSGrowth %
Q3/2020$1.41176.5
Q2/202051.0c-51.4

6.9 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 6.3%

TSR %5 yrs10 yrs30 yrs
C.NYSE186.49

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6.10 A 98.7% Decrease in Insider Selling

In the past 5 years a total of 633,369 Citigroup shares worth $39.9 million were sold by insiders. Based on a dynamic start date of 5 years ago, insider selling has averaged 126,674 shares per year. In the past year, insiders sold 485 shares, a decrease of 98.7% from the previous year.

YearNo. of SharesValue, $
Feb 24, 202148549,829
1 Yr ago37,5002,545,148
2 Yrs ago142,19610,091,872
3 Yrs ago45,0003,047,034
4 Yrs ago408,18824,203,526
Total633,36939,937,409

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6.11 Increased Volume, up 38% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has increased 38.1% to 27.2 million shares.

Avg. Daily Volume Traded 12 months ended Feb 24, million shares

YearADVT
202127.2
202013.1
201917.6
201816.4
201719.7

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6.12 Increased VWAP, up 13% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has increased by 13.1% to $49.37.

Past five years, 12 months ended Feb 24 (USD)

YearHigh PriceVWAPLow Price
202170.2449.3730.7
202079.2165.956.04
201970.960.944.87
201873.4661.8351.12
201755.5643.6633.99

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6.13 Increased share turnover, up 53% in 5 years

In the past five years, average daily share turnover has increased 53.2% to $1.3 billion. This suggests increased liquidity.

Past five years, 12 months ended Feb 24 (USD billion)

YearAverage Daily Turnover
20211.3
20200.87
20191.1
20181.0
20170.87

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6.14 Increase in Institutional Ownership up from 71.9% to 72.9%

As at December 31, 2020 Institutions held 72.9% of total shares on issue; an increase from 71.9% as at September 30, 2020.

Quarter-endSeptember 30, 2020December 31, 2020
Holdings (%)71.972.9

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6.15 Satisfies one criteria of Benjamin Graham

- The P/E of 9.5 multiplied by the P/NTA of 0.8 is 8.0. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.

6.16 Satisfies 5 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Positive net income.

- Positive operating cashflow.

- Good quality of earnings [operating cashflow exceeds net income].

- Improvement in current ratio from 38.5 to 55.1.

- Reduction in total shares on issue.

SECTION 7 ONGOING BEARISH PARAMETERS

7.1 The Worst Periods [1 Yr, 3 Yrs] with Price Change % < -1.3

3-Year price change of -2.2% for Citigroup underperformed the change of 42.9% in the S&P 500 index for a relative price change of -45.1%.

Price Change %Year3 Years
Citigroup-1.4-2.2
Bank sector4.1-5.8
S&P 500 index17.642.9

7.2 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Periods with TSR < 3%

TSR %1 yr3 yrs20 yrs
C.NYSE2.92.5-1.6

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SECTION 8 Q4/2020 INSTITUTIONAL SHAREHOLDER ACTIVITY

8.1 Top 100 Institutional Shareholders of Citigroup as at December 31, 2020

As at December 31, 2020, 1476 Institutions held investments in Citigroup. Institutions had decreased their holdings to 72.92% of issued capital, down from 75.4% nine months ago. The top 100 institutional shareholders held 63.3% shares of Citigroup. The largest shareholder was Vanguard Group with 8.1% of Citigroup. The second largest shareholder was Blackrock with 7.5%.

*Note: Minimum Core Shareholding is computed on the basis of SEC filings over the last 12 quarters (3 years). A higher % of shareholding above the minimum core holding may be indicative of a potential positioning by the institution to overweight.

Institution (CIK)SharesHolding %Value $Minimum Core Holding*% Above Min Core Holding*
Vanguard Group (0000102909)168,301,5338.110.3 B168,301,5330
Blackrock (0001364742)155,739,5897.59.5 B155,739,5890
State Street (0000093751)88,746,6574.35.4 B88,746,6570
Bank of America (0000070858)48,544,2992.33 B28,565,77070
Capital World Investors (0001422849)43,679,6042.12.7 B20,800,000110
Bank of New York Mellon (0001390777)39,116,1411.92.4 B43,10090,657
Capital Research Global Investors (0001422848)33,490,9991.62 B340,0009,750
Geode Capital Management (0001214717)31,797,0151.51.9 B28,571,67411.3
Massachusetts Financial Services Co (0000912938)28,708,1731.41.8 B28,708,1730
Harris Associates (0000813917)27,092,9881.31.7 B25,960,8424.4
Valueact Holdings (0001418814)27,025,5001.31.7 B16,200,00067
Northern Trust (0000073124)26,129,1751.31.6 B26,129,1750
Sanders Capital (0001508097)25,785,9941.21.6 B8,129,045217
JP Morgan Chase & Co (0000019617)23,990,2461.11.5 B22,128,4688.4
Eagle Capital Management (0000945631)22,465,3411.11.4 B20,887,7947.6
Invesco (0000914208)20,602,0570.991.3 B20,602,0570
Hotchkis & Wiley Capital Management (0001164833)20,336,5470.981.2 B9,868,688106
FMR (0000315066)20,013,5160.961.2 B19,897,4520.58
Ameriprise Financial (0000820027)19,805,2740.951.2 B19,054,7833.9
Morgan Stanley (0000895421)19,247,8120.921.2 B12,428,43055
Nuveen Asset Management (0001521019)16,453,6890.791 B591,7362,681
Franklin Resources (0000038777)15,288,3700.73934.7 M11,237,90336.0
Legal & General Group (0000764068)13,466,4180.65823.3 M11,413,92118.0
Dimensional Fund Advisors (0000354204)13,386,5870.64818.4 M13,386,5870
Putnam Investments (0001421578)12,567,1670.6768.3 M8,931,18840.7
Wells Fargo & Co (0000072971)11,587,8840.56708.5 M9,944,36516.5
Artisan Partners Partnership (0001466153)11,248,0070.54687.7 M10,405,1808.1
Barclays (0000312069)10,958,2640.53670 M3,215,764241
Schwab Charles Investment Management (0000884546)10,505,8560.5642.3 M10,427,4600.75
Bank of Montreal (0000927971)10,374,0470.5634.3 M10,323,4210.49
Boston Partners (0001386060)10,184,4110.49622.7 M8,664,60117.5
LSV Asset Management (0001050470)10,090,3020.48616.9 M10,090,3020
Pzena Investment Management (0001027796)9,696,1270.47592.8 M7,569,37028.1
AllianceBernstein (0001109448)7,736,0550.37473 M7,736,0550
Sumitomo Mitsui Trust Holdings (0001475365)7,480,3700.36457.3 M7,480,3700
APG Asset Management N.V. (0001434819)7,458,4610.36456 M4,833,20354
Nordea Investment Management Ab (0001218210)7,399,0630.36452.4 M4,795,64554
Investec Asset Management (0001418329)7,203,6030.35440.4 M5,872,03522.7
Parametric Portfolio Associates (0000932859)6,684,1450.32408.7 M6,684,1450
Deutsche Bank (0000948046)6,288,1690.3384.5 M6,020,5744.4
Royal Bank of Canada (0001000275)6,142,3520.3375.5 M6,142,3520
Barrow Hanley Mewhinney & Strauss (0000313028)6,142,0410.3375.5 M1,351,139355
New York State Common Retirement Fund (0000810265)6,051,3920.29370 M6,051,3920
Standard Life Aberdeen (0001716774)5,970,5130.29365 M4,325,58238.0
D. E. Shaw & Co. (0001009207)5,836,3520.28356.8 M3,092,90689
Prudential Financial (0001137774)5,680,3050.27347.3 M5,613,7061.2
First Pacific Advisors (0001377581)5,434,7740.26332.3 M5,337,2751.8
Credit Suisse (0000824468)5,291,1240.25323.5 M4,152,98127.4
UBS Group (0001610520)5,281,3570.25322.9 M4,911,3737.5
California Public Employees Retirement System (0000919079)5,220,9060.25319.2 M4,723,23210.5
Cibc World Markets (0001056527)5,189,5030.25317.3 M257,2821,917
Henderson Group (0001274173)5,107,4190.25312.3 M3,207,81359
Caisse De Depot Et Placement Du Quebec (0000898286)5,095,2110.24311.5 M1,321,210286
Primecap Management Co (0000763212)4,951,0460.24302.7 M4,951,0460
Thornburg Investment Management (0001145020)4,819,8820.23294.7 M1,546,450212
Natixis (0001274981)4,729,9070.23289.2 M30,96215,176
Greenhaven Associates (0000846222)4,649,0840.22284.2 M2,100,204121
Pioneer Investment Management (0001102598)4,506,0970.22275.5 M2,253,607100
Goldman Sachs Group (0000886982)4,483,9700.22274.1 M4,483,9700
Bank of Nova Scotia (0000009631)4,423,6270.21270.5 M310,2961,326
Russell Investments Group (0001692234)3,960,7110.19242.2 M3,650,5828.5
Tesco Pension Investment (0001562744)3,868,4220.19236.5 M1,818,591113
California State Teachers Retirement System (0001081019)3,833,7710.18234.4 M3,801,6380.85
Rhumbline Advisers (0001115418)3,748,3510.18229.2 M3,748,3510
Ensign Peak Advisors (0001454984)3,702,3800.18226.4 M2,941,19625.9
Price T Rowe Associates (0000080255)3,662,2680.18223.9 M3,662,2680
CI Investments (0001163648)3,659,5660.18223.7 M6,34257,604
Citadel Advisors (0001423053)3,611,5570.17220.8 M93,7333,753
Manufacturers Life Insurance (0000928047)3,515,7910.17215 M3,515,7910
Man Group (0001637460)3,436,8500.17210.1 M2,862,72320.1
Healthcare of Ontario Pension Plan Trust Fund (0001535845)3,429,6090.16209.7 M582,394489
Bessemer Group (0001054074)3,305,3470.16202.1 M3,119,8905.9
Allianz Asset Management (0001535323)3,105,8020.15189.9 M3,105,8020
BNP Paribas Arbitrage (0001166588)3,063,0170.15187.3 M1,593,96092
River & Mercantile Asset Management (0001486180)3,035,2380.15185.6 M1,225,650148
Swedbank (0001633050)3,034,5690.15185.5 M2,086,99245.4
Australian Super (0001694164)2,995,1300.14183.1 M2,123,87741.0
Two Sigma Investments (0001179392)2,989,9750.14182.8 M16,11418,455
Brandywine Global Investment Management (0000829108)2,947,0810.14180.2 M2,748,3487.2
New York State Teachers Retirement System (0000314969)2,850,2040.14174.3 M2,850,2040
State Board of Administration of Florida Retirement System (0000938076)2,838,0150.14173.5 M2,831,4090.23
Voya Investment Management (0001068837)2,830,7590.14173.1 M1,197,457136
Adage Capital Partners (0001165408)2,661,2860.13162.7 M2,274,78617.0
Neuberger Berman Group (0001465109)2,654,0060.13162.3 M2,104,44626.1
Principal Financial Group (0001126328)2,650,7510.13162.1 M2,650,7510
Clearbridge Investments (0001348883)2,649,4810.13162 M2,635,2320.54
Robeco Institutional Asset Management (0001418773)2,477,2550.12151.5 M2,304,9557.5
Alpine Investment Management (0001508822)2,450,5710.12149.8 M1,219,012101
AQR Capital Management (0001167557)2,390,6980.11146.2 M766,777212
Eaton Vance Management (0001076598)2,349,0800.11143.6 M1,425,76265
Parallax Volatility Advisers (0001521001)2,311,7750.11141.3 M332,756595
Two Sigma Advisers (0001478735)2,277,2000.11139.2 M45,7004,883
State of Wisconsin Investment Board (0000854157)2,202,3180.11134.6 M2,202,3180
Itau Unibanco Holding (0001132597)2,176,5980.1133.1 M7,95827,251
Mitsubishi UFJ Trust & Banking (0001462160)2,108,6200.1128.9 M1,973,4466.8
HSBC Holdings (0000873630)2,082,8560.1127.3 M2,082,8560
First Trust Advisors (0001125816)2,061,3610.1126 M67,1282,971
Korea Investment (0001441689)2,056,6080.1125.7 M1,929,9306.6
Sound Shore Management (0000820124)2,014,7850.1123.2 M1,639,19122.9
Harel Insurance Investments & Financial Services (0001429390)2,013,7620.1123.1 M1,343149,845
Held by Top 1001,316,695,74163.2980.5 billion - -

8.2 Major Increases in Top 100 institutional shareholders December 31, 2020 vs September 30, 2020

Capital World Investors increased their shareholding in Citigroup by 22.6 million shares worth $ 1.1 billion. Capital Research Global Investors increased their shareholding by 20.2 million shares worth $ 1 billion.

Institution (CIK)Increase in SharesIncrease Value, $
Capital World Investors (0001422849)22,639,5311.1 B
Capital Research Global Investors (0001422848)20,242,8201 B
Sanders Capital (0001508097)5,512,418275.2 M
Bank of New York Mellon (0001390777)4,999,125249.6 M
Barclays (0000312069)3,394,719169.5 M
Hotchkis & Wiley Capital Management (0001164833)2,545,830127.1 M
Barrow Hanley Mewhinney & Strauss (0000313028)2,254,885112.6 M
D. E. Shaw & Co. (0001009207)2,137,367106.7 M
Morgan Stanley (0000895421)2,023,647101 M
JP Morgan Chase & Co (0000019617)1,861,77893 M
Boston Partners (0001386060)1,519,81075.9 M
Investec Asset Management (0001418329)1,331,56866.5 M
Pzena Investment Management (0001027796)1,158,74657.9 M
Harris Associates (0000813917)1,132,14656.5 M
Henderson Group (0001274173)1,110,51755.4 M
Wells Fargo & Co (0000072971)1,081,66254 M
CI Investments (0001163648)932,61846.6 M
Putnam Investments (0001421578)809,36040.4 M
Ameriprise Financial (0000820027)750,49137.5 M
Nordea Investment Management Ab (0001218210)464,93923.2 M
Geode Capital Management (0001214717)393,12419.6 M
Adage Capital Partners (0001165408)386,50019.3 M
Ensign Peak Advisors (0001454984)364,40918.2 M
Bank of Nova Scotia (0000009631)359,48117.9 M
Pioneer Investment Management (0001102598)317,42415.8 M
Russell Investments Group (0001692234)310,12915.5 M
Neuberger Berman Group (0001465109)236,72311.8 M
California Public Employees Retirement System (0000919079)218,13910.9 M
Healthcare of Ontario Pension Plan Trust Fund (0001535845)214,32810.7 M
Brandywine Global Investment Management (0000829108)198,7339.9 M
River & Mercantile Asset Management (0001486180)182,4969.1 M
Thornburg Investment Management (0001145020)180,0369 M
Legal & General Group (0000764068)170,7858.5 M
Swedbank (0001633050)118,1695.9 M
FMR (0000315066)116,0645.8 M
Schwab Charles Investment Management (0000884546)78,3963.9 M
Clearbridge Investments (0001348883)14,249711,467
California State Teachers Retirement System (0001081019)4,083203,868
Australian Super (0001694164)3,975198,476
Total81,771,220

8.3 Major Decreases in Top 100 institutional shareholders December 31, 2020 vs September 30, 2020

Citadel Advisors reduced their shareholding in Citigroup by 4.7 million shares worth $ 233.7 million. Goldman Sachs Group reduced their shareholding by 3.5 million shares worth $ 177.2 million.

Institution (CIK)Decrease in SharesDecrease Value, $
Citadel Advisors (0001423053)4,680,185(233.7 M)
Goldman Sachs Group (0000886982)3,549,761(177.2 M)
Man Group (0001637460)3,187,885(159.2 M)
Bessemer Group (0001054074)2,398,596(119.8 M)
Invesco (0000914208)2,337,038(116.7 M)
Blackrock (0001364742)1,995,848(99.7 M)
Nuveen Asset Management (0001521019)1,416,755(70.7 M)
Vanguard Group (0000102909)1,393,184(69.6 M)
Robeco Institutional Asset Management (0001418773)1,223,723(61.1 M)
HSBC Holdings (0000873630)1,134,503(56.6 M)
Sumitomo Mitsui Trust Holdings (0001475365)1,126,549(56.2 M)
Credit Suisse (0000824468)1,070,421(53.4 M)
Franklin Resources (0000038777)854,137(42.6 M)
Eagle Capital Management (0000945631)738,985(36.9 M)
Parallax Volatility Advisers (0001521001)712,840(35.6 M)
Deutsche Bank (0000948046)631,367(31.5 M)
Royal Bank of Canada (0001000275)599,481(29.9 M)
LSV Asset Management (0001050470)591,584(29.5 M)
Northern Trust (0000073124)587,970(29.4 M)
New York State Common Retirement Fund (0000810265)562,232(28.1 M)
Dimensional Fund Advisors (0000354204)528,663(26.4 M)
Caisse De Depot Et Placement Du Quebec (0000898286)502,783(25.1 M)
Artisan Partners Partnership (0001466153)489,388(24.4 M)
BNP Paribas Arbitrage (0001166588)434,112(21.7 M)
Massachusetts Financial Services Co (0000912938)377,548(18.9 M)
Mitsubishi UFJ Trust & Banking (0001462160)304,858(15.2 M)
State Street (0000093751)281,060(14 M)
APG Asset Management N.V. (0001434819)280,266(14 M)
Bank of Montreal (0000927971)271,493(13.6 M)
UBS Group (0001610520)244,815(12.2 M)
Standard Life Aberdeen (0001716774)225,543(11.3 M)
Bank of America (0000070858)219,626(11 M)
Allianz Asset Management (0001535323)219,512(11 M)
Principal Financial Group (0001126328)182,883(9.1 M)
Price T Rowe Associates (0000080255)163,574(8.2 M)
Parametric Portfolio Associates (0000932859)119,634(6 M)
Voya Investment Management (0001068837)116,314(5.8 M)
Prudential Financial (0001137774)106,941(5.3 M)
AllianceBernstein (0001109448)79,088(3.9 M)
State of Wisconsin Investment Board (0000854157)74,228(3.7 M)
Rhumbline Advisers (0001115418)33,073(1.7 M)
Eaton Vance Management (0001076598)29,585(1.5 M)
Alpine Investment Management (0001508822)13,769(687,500)
First Pacific Advisors (0001377581)11,969(597,624)
Manufacturers Life Insurance (0000928047)8,678(433,301)
Primecap Management Co (0000763212)1,445(72,150)
Total36,113,892

8.4 New Entrants in Top 100 institutional shareholders as at December 31, 2020

Institution (CIK)SharesValue, $
Cibc World Markets (0001056527)5,189,503317.3 M
Natixis (0001274981)4,729,907289.2 M
Greenhaven Associates (0000846222)4,649,084284.2 M
Tesco Pension Investment (0001562744)3,868,422236.5 M
Two Sigma Investments (0001179392)2,989,975182.8 M
New York State Teachers Retirement System (0000314969)2,850,204174.3 M
AQR Capital Management (0001167557)2,390,698146.2 M
Two Sigma Advisers (0001478735)2,277,200139.2 M
Itau Unibanco Holding (0001132597)2,176,598133.1 M
First Trust Advisors (0001125816)2,061,361126 M
Korea Investment (0001441689)2,056,608125.7 M
Sound Shore Management (0000820124)2,014,785123.2 M
Harel Insurance Investments & Financial Services (0001429390)2,013,762123.1 M
Total39,268,107

8.5 Drop Outs from Top 100 institutional shareholders as at December 31, 2020

Institution (CIK)SharesValue, $
Toronto Dominion Bank (0000947263)1,696,349103.7 M
Waddell & Reed, Inc. (0001052100)1,687,017103.1 M
M&G Investment Management LTD (0000922898)1,475,24090.2 M
Diamond Hill Capital Management Inc. (0001217541)1,243,09176 M
Lansdowne Partners (UK) LLP (0001608485)1,192,48272.9 M
Renaissance Technologies LLC (0001037389)514,02031.4 M
Wellington Management Group LLP (0000902219)415,50825.4 M
Lord, Abbett & Co. LLC (0000728100)374,28222.9 M
AJO, LP (0001013536)277,20016.9 M
Voloridge Investment Management, LLC (0001556921)233,25714.3 M
Total9,108,446

8.6 Reported holdings of institutions as at December 31, 2020

Quarter EndedDec 31, 2020Sep 30, 2020Jun 30, 2020Mar 31, 2020
Market Value ($ Million)
Reported Holdings of Institutions92,81163,22877,24563,431
% of issued capital72.9271.9374.8975.4

As at December 31, 2020 institutions had decreased their holdings to 72.92% of issued capital, down from 75.4% nine months ago.

SECTION 9 STOCK NEWS

9.1 Institutional News (Release Date: 16 Feb, 2021)

Institutional Ownership up 1%

1476 Institutions held 1.5 billion shares at the end of quarter ended Dec 31. Institutional holdings in Citigroup increased by 20,527,103 shares (1.4%) at the end of quarter ended Dec 31. Institutional ownership is now 72.92% of the issued capital, up from 71.93% as at Sep 30.

<>

9.2 Dividends

January 27: Citigroup quarterly dividends steady

Citigroup today announced a quarterly dividend of 51.0c per share for Q4/2020; unchanged from the previous quarter (Q3/2020) dividend of 51.0c. The ex-dividend date is Friday, January 29, 2021 and the record date is Monday, February 01, 2021 and it is payable on Friday, February 26. Total dividends per share paid in the 12 months ended January 28 were $2.04. This reflects actual dividend yield of 3.4% at the last price of $60.91.

9.3 People's News

Fri Feb 12, 2021

Citigroup (NYSE:C) Independent Director Diana L. Taylor, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Director Gary M. Reiner, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Director James S. Turley, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Chief Executive Officer and Director Michael Corbat, was awarded 97,299 shares worth $6.1 million on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Independent Director Peter Blair Henry, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Corporate Secretary Rohan Weerasinghe, was awarded 29,875 shares worth $1.9 million on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Director Ellen M. Costello, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Director Renee J. James, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Director Barbara Desoer, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Independent Chairman John C. Dugan, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Independent Director S. Leslie Ireland, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Director Deborah C. Wright, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) President Jane Fraser, was awarded 79,190 shares worth $5 million on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Head of Enterprise Infrastructure and Operations & Technology Mike Whitaker, was awarded 35,612 shares worth $2.3 million on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Director Duncan P. Hennes, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Independent Director Alexander Wynaendts, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Independent Director Grace Dailey, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Chief Financial Officer Mark Mason, was awarded 50,178 shares worth $3.2 million on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Chief Executive Officer Asia Pacific Peter Babej, was awarded 35,826 shares worth $2.3 million on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Chief Compliance Officer Mary McNiff, was awarded 26,159 shares worth $1.7 million on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Director Jay Jacobs, was awarded 2,378 shares worth $150,290 on February 11.

Fri Feb 12, 2021

Citigroup (NYSE:C) Independent Director Ernesto Zedillo, was awarded 2,378 shares worth $150,290 on February 11.

9.4 Stock Buzz

Source: The Wall Street Journal

News DateHeadline
Feb 23Citigroup Inc. stock outperforms market on strong trading day
Feb 16Citigroup Inc. stock outperforms market on strong trading day
Feb 11Citigroup CFO Mark Mason to Present at the 2021 Credit Suisse Financial Services Forum
Feb 10Citigroup Inc. stock outperforms competitors on strong trading day
Feb 04Citigroup Inc. stock rises Thursday, outperforms market
Feb 02Citigroup Inc. stock rises Tuesday, outperforms market

Source: Bloomberg

News DateHeadline
Feb 23, 2021Citigroup Wants Extended Freeze on Mistaken Revlon Payments
Feb 11, 2021Citigroup CFO Mark Mason to Present at the 2021 Credit Suisse Financial Services Forum
Jan 06, 2021South Africa Rand Catches Citigroup Out
Dec 29, 2020DEADLINE TODAY: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Citigroup Inc. and Encourages Invest
Dec 21, 2020Corporate Balance Sheets Good From Liquidity Perspective, Citigroup's Zogheb Says
Dec 10, 2020Citigroup's Apabhai Sees Upside in Equities in 2021

Source: Other Publishers

News DateHeadlinePublisher
Feb 24, 2021Citigroup 4Q profit down 7%, revenue drops by 10%Richmond News
Feb 24, 2021Citigroup Inc. [C] stock Downgrade by Berenberg analyst, price target now $70dbtnews
Feb 24, 2021NYSE:C Long Term Investor Alert: Investigation over Possible Wrongdoing at Citigroup Inc.SBWire
Feb 23, 2021Citigroup Inc. (NYSE:C) Holdings Raised by Great Lakes Advisors LLCtheenterpriseleader.com
Feb 23, 2021Greenleaf Trust Trims Position in Citigroup Inc. (NYSE:C)modernreaders.com
Feb 22, 2021Highlights from the Ratings and Financial Report for Citigroup Inc. (C)newsheater

SECTION 10 Board of Directors

10.1 Board and Management

NameDesignationSince Appointment
Michael CorbatChief Executive Officer, Director8 Yrs, 4 Mos
Jane FraserPresident-
John C. DuganIndependent Chairman3 Yrs, 4 Mos
Mark MasonChief Financial Officer2 Yrs
Renee J. JamesDirector-
Ellen M. CostelloDirector-
Gary M. ReinerDirector-
Duncan P. HennesDirector-
Jay JacobsDirector-
James S. TurleyDirector-
Barbara DesoerDirector-
Deborah C. WrightDirector-
Peter Blair HenryIndependent Director5 Yrs, 8 Mos
Ernesto ZedilloIndependent Director-
S. Leslie IrelandIndependent Director3 Yrs, 4 Mos
Diana L. TaylorIndependent Director16 Yrs, 1 Mo
Alexander WynaendtsIndependent Director1 Yr, 5 Mos
Grace DaileyIndependent Director1 Yr, 5 Mos
Karen PeetzChief Administrative Officer-
Johnbull OkparaChief Administrative Officer, Controller-
Rohan WeerasingheCorporate Secretary-

10.2 Profiles

Michael Corbat

CEO & Director

Michael L. Corbat is Chief Executive Officer of Citigroup, the world's global bank, with approximately 200 million customer accounts and activities in more than 160 countries and jurisdictions. Mr. Corbat has been at Citi and its predecessor companies since his graduation from Harvard University with a bachelor's degree in economics in 1983. In his previous role as Citi's CEO of Europe, Middle East and Africa since the start of 2012, he oversaw all of Citi's business operations in the region, including consumer banking, corporate and investment banking, securities and trading and private banking services. Previously, Mr. Corbat served as the CEO of Citi Holdings, Citi's portfolio of non-core businesses and assets. In this role, he oversaw the divestiture of more than 40 businesses, including the IPO and sale of Citi's remaining stake in Primerica. Mr. Corbat also successfully restructured Citi's consumer finance and retail partner cards businesses and divested more than $500 billion assets, reducing risk on the Company's balance sheet and freeing up capital to invest in Citi's core banking business. Mr. Corbat also served as the CEO of Citi's Global Wealth Management unit. Prior to this, he was Head of the Global Corporate Bank and Global Commercial Bank at Citi, a role in which he led the firm's efforts to provide best-in-class financial services to top-tier multi-national corporations and financial institutions around the world. In his various advisory and structuring roles, Mr. Corbat has successfully guided retail and institutional clients across the spectrum of financial services and significant challenges, from the bankruptcy of Orange County, California, to sovereign debt restructurings in Latin America and business restructurings in North America and Europe. In addition, Mr. Corbat was the Head of Global Emerging Markets Debt, responsible for the origination, trading and sales of emerging markets fixed income debt. He also held a number of positions at Salomon Brothers, one of Citi's predecessor companies, including Managing Director roles in Emerging Markets, High Yield and Derivatives.

Shareholder Value:

Creation of shareholder value in Citigroup:

Date of appointment: October 16, 2012

In the last 5 years the average annualized return to shareholders was 18.0%. The present value of $1,000 (PV1000) invested 5 years ago is now $2,285, a gain of $1,007 and dividend reinvested of $278.

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_Michael_Corbat.jpg

Jane Fraser

President

Jane Fraser is the President of Citi. She is a member of Citi's Board of Directors, and she will succeed Mike Corbat as Citi's Chief Executive Officer in February 2021. She will be the first female CEO in the firm's history. Jane is a member of the Citi Executive Management Team, serves as Co-Chair of the Citi Women Affinity Group and is Head of Citi's North America Crisis Management response to COVID-19.

In her previous role as CEO of the Global Consumer Bank, Jane was responsible for all of Citi's Consumer businesses, including Retail Banking and Wealth Management, Credit Cards, Mortgage and Operations and Technology in 19 markets.

Before that, she was the Chief Executive Officer of Citigroup Latin America from 2015 to 2019. From 2013 to 2015, she was the Chief Executive Officer of the U.S. Consumer and Commercial Banking and CitiMortgage. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. She joined Citi in 2004 in the Corporate and Investment Banking division.

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_Jane_Fraser.jpg

John C. Dugan

Independent Chairman

Chair, Citigroup Inc. - January 2019 to present Former Chair, Financial Institutions Group, Covington & Burling LLP - 2011 to 2017 Comptroller of the Currency - 2005 to 2010 Partner, Covington & Burling LLP - 1993 to 2005 Assistant Secretary for Domestic Finance, U.S. Department of the Treasury - 1989 to 1993 Counsel and Minority General Counsel for the U.S. Senate Committee on Banking, Housing, and Urban Affairs - 1985 to 1989 Other activities: Financial Accounting Foundation (Board)

Shareholder Value:

Creation of shareholder value in Citigroup:

Since appointment as Independent Chairman: The present value of $1,000 invested on the appointment date of October 02, 2017 at close price of $66.89 is $1,141, including a capital gain of $26 and dividend reinvested of $115.

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_John_C._Dugan.jpg

Mark Mason

CFO

Mark Mason was named Chief Financial Officer of Citi in February 2019. He is responsible for the financial management of the company and also spearheads Citi's Expense Management and Citi Ventures Initiatives. Prior to being named Citi CFO, Mr. Mason served as CFO of Citi's Institutional Clients Group (ICG) and was the executive responsible for Citi's Comprehensive Capital Analysis and Review (CCAR) submission process.

Mr. Mason joined Citi in 2001 and has held several senior operational, strategic, and financial executive positions, including CEO of Citi Private Bank, CEO of Citi Holdings and CFO and Head of Strategy and M&A for Citi's Global Wealth Management Division.

Prior to his tenure at Citi, Mr. Mason was Director of Strategy and Business Development with Lucent Technologies. He also spent several years as Strategy Consultant with Marakon Associates, working with a number of Fortune 100 companies to develop strategies to maximize shareholder value. Mr. Mason also has investment banking experience with Goldman, Sachs & Co.

Mr. Mason has been a Director of Primerica, Inc. since March 2010. He serves as a Trustee of Howard University where he received a BBA in Finance and graduated with honors. He also holds an MBA from Harvard Business School.

Mr. Mason resides in New Jersey with his wife and two children.

Shareholder Value:

Creation of shareholder value in Citigroup:

Month of appointment: February 2019

In the last 2 years the average annualized return to shareholders was 11.0%. The present value of $1,000 (PV1000) invested 2 years ago is now $1,231, a gain of $146 and dividend reinvested of $85.

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_Mark_Mason.jpg

Duncan P. Hennes

Director

Co-Founder and Partner, Atrevida Partners, LLC - June 2007 to present Co-Founder and Partner, Promontory Financial Group - 2000 to 2006 Chief Executive Officer, Soros Fund Management - 1999 to 2000 Executive Vice President/Treasurer, Bankers Trust Company - 1987 to 1999 Audit Manager, Arthur Andersen & Co. - 1979 to 1987 Director of Citigroup since 2013 Director of Citibank, N.A. since 2013 Other Directorships: RenaissanceRe Holdings, Ltd. Previous Directorships within the last five years: Syncora Holdings, Ltd. Other Activities: Freeman & Co. (Advisory Board)

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_Duncan_P._Hennes.jpg

Deborah C. Wright

Director

Chairman, Carver Bancorp, Inc. - 2005 to 2016

President and Chief Executive Officer of Carver Bancorp, Inc. and Carver Federal Savings Bank - 1999 to 2014 President and Chief Executive Officer of the Upper Manhattan Empowerment Zone Development Corporation, a redevelopment fund - 1996 to 1999

Commissioner of the Department of Housing Preservation and Development - 1994 to 1996

Member of the New York City Housing Authority Board - 1992 to 1994, and served on the New York City Planning Commission - 1990 to 1992

Director of Citigroup since 2017

Other Directorships: Time Warner and Voya Financial, Inc.

Previous Directorships within the last five years: Carver Bancorp, Inc.

Other Activities: Director, Chairman of the Audit Committee and member of the Executive Committee of Memorial Sloan-Kettering Cancer Center

Ellen M. Costello

Director

Former President and CEO, BMO Financial Corporation and U.S. Country Head, BMO Financial Group - 2011 to July 2013 Group Head, Personal and Commercial Banking, U.S. and President and Chief Executive Officer, BMO Harris Bank N.A. BMO Financial Group - 2006 to 2011 Vice Chairman and Head, Securitization and Credit Investment Management, Merchant Banking and Head of N.Y. Office, Capital Markets Group, BMO Financial Group - 2000 to 2006 Executive Vice President, Strategic Initiatives, Capital Markets Group, BMO Financial Group - 2000 Executive Vice President and Head, Global Treasury Group, BMO Financial Group - 1997 to 1999 Senior Vice President and Deputy Treasurer, Global Treasury Group, BMO Financial Group - 1995 to 1997 Managing Director and Regional Treasurer, Asia Pacific, Global Treasury Group, BMO Financial Group - 1993 to 1994 Managing Director and Head, North American Financial Product Sales, Global Treasury Group, BMO Financial Group - 1991 to 1993 Director of Citigroup since 2016 Director of Citibank, N.A. since 2016 Other Directorships: DH Corporation Previous Directorships within the last five years: BMO Financial Corporation Other Activities: The United Way of Metropolitan Chicago (Board), Chicago Council on Global Affairs (Board), Economic Club of Chicago (member)

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_Ellen_M._Costello.jpg

Renee J. James

Director

Operating Executive, The Carlyle Group - February 2016 to present Former, President, Intel Corporation - 2014 to 2016 Executive Vice President and Head, Group GM Intel Software and Services Business - 2004 to 2013 Group Vice President and Division General Manager, Sales and Marketing; Group and General Manager, Microsoft Program Office, Intel - 2001 to 2004 Division Chief Operating Officer, Intel Online Solutions - 1999 to 2001 Chief of Staff to Intel Chairman and CEO Andrew Grove - 1995 to 1999 Director of Citigroup since 2016 Other Directorships: Oracle Corporation, Sabre Corporation and Vodafone Group PLC Previous Directorships within the last five years: VMware, Inc. Other Activities: President's National Security Telecommunications Advisory Committee (Vice Chair)

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_Renee_J._James.jpg

Gary M. Reiner

Director

Operating Partner of General Atlantic LLC since 2010

Senior Vice President and Chief Information Officer of General Electric Company - 1996 to 2010

Vice President, Corporate and Business Development

Partner, The Boston Consulting Group Inc.

Director of Citigroup since 2013

Director of Citibank, N.A. since 2013

Other Directorships: Hewlett-Packard Company

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_Gary_M._Reiner.jpg

James S. Turley

Director

Chairman and Chief Executive Officer of Ernst & Young - 2001 to 2013

Deputy Chairman - 2000 to 2001

Regional Managing Partner for New York - 1998 to 2000

Regional Managing Partner for the Upper Midwest - 1994 to 1998

Director of Citigroup since 2013

Director of Citibank, N.A. since 2013

Other Directorship: Emerson Electric Company

Previous Directorships within the last five years: Catalyst

Other Activities: Boy Scouts of America (Director), Rice University (Trustee), National Corporate Theatre Fund (Chair), President Obama's Export Council

ChartPath:/opt/jboss/jboss-4.0.5.GA/server/default/deploy/BuySellSignals.war/report/Usnyse/Director/340_James_S._Turley.jpg

Jay Jacobs

Director

Chair (non-executive), Commercial Trust Company - 2020 to present President (non-executive), Commercial Trust Company - 1998 to 2020 President and Managing Director; Executive Committee Member, Compensation Committee Member, Global Risk Committee Chair, PIMCO - 2014 to 2017 Managing Director and Global Head of Human Resources, PIMCO - 2008 to 2014 Managing Director and Head of Fixed Income - Germany, PIMCO - 2006 to 2008 Executive Vice President and Head of Fixed Income - Germany, PIMCO - 2003 to 2006 Executive Vice President (2003), Senior Vice President (2001 to 2003), Vice President (2000 to 2001), and Associate (1998 to 2000), Office of the CEO, PIMCO - 1998 to 2003 Named Director of Citigroup in 2018 Other Directorships: None Previous Directorships within the last five years: None Other Activities: The Peterson Institute for International Economics (Board Member), Commercial Trust Company (Board Member), Georgetown University (Fellow), Washington University (Trustee)

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Barbara Desoer

Director

Barbara Desoer is the CEO of Citibank, N.A., a role she assumed in April 2014, and is also a member of its Board of Directors. Citibank, N.A. accounts for approximately 75 percent of Citigroup's total assets. It is the primary entity within which Citigroup engages in activities through branches and subsidiaries in 95 countries and territories, including the United States (and excluding Mexico). Citibank, N.A.'s principal offerings include mortgage lending, credit cards, and retail banking products and services; corporate lending, commercial banking, cash management, trade finance and e-commerce products and services; and private banking products and services. In addition to her CEO responsibilities, Barbara leads Citigroup's Comprehensive Capital Analysis and Review process and Citigroup's Anti-Money Laundering function. Barbara is also the co-head of Citigroup's global women's initiative, Citi Women. In her previous 35-year career at Bank of America, Barbara's most recent position was President, Bank of America Home Loans. In previous Bank of America roles, Barbara was Global Technology & Operations Executive. In this capacity she re-tooled capability to more effectively enable growth and innovation plans through technology, drove quality through building offshore teams, invested in infrastructure upgrades and created Six Sigma centralized capability. She also served as President, Consumer Products, leading checking and savings deposit accounts, credit and debit cards, first mortgage and home equity lending, insurance products, call centers, ATMs, online banking, and dealer services. Earlier career positions included Director of Marketing, where she executed the rebranding of all legacy businesses of Bank of America and NationsBank post the 1998 merger; Banking Group President; California Retail and Small Business Banking Executive; District Manager; and several prior management positions. Barbara is a member of the Board of Directors of DaVita HealthCare Partners Inc. She has also served in various non-profit board positions over the years and is currently a member of the Board of Visitors of the University of California, Berkeley. She received her M.B.A. in finance from University of California, Berkeley - Haas School of Business, and her B.A. in mathematics from Mount Holyoke College.

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S. Leslie Ireland

Independent Director

Head of the Office of Intelligence and Analysis, U.S. Department of the Treasury - 2010 to 2016 National Intelligence Manager for Threat Finance - 2010 to 2016 President's Daily Intelligence Briefer - 2008 to 2010 Iran Mission Manager - 2005 to 2008 Executive Advisor to the Director of Central Intelligence, CIA - 2004 to 2005 Various Leadership, Staff and Analytical positions (classified), CIA - 1985 to 2003 Director of Citigroup since 2017 Other Directorships: None Previous Directorships within the last five years: None

Shareholder Value:

Creation of shareholder value in Citigroup:

Since appointment as Independent Director: The present value of $1,000 invested on the appointment date of October 03, 2017 at close price of $67.19 is $1,136, including a capital gain of $21 and dividend reinvested of $115.

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Grace Dailey

Independent Director

Director of Citibank, N.A. since 2020 Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner, OCC - 2016 to 2019 Assistant Deputy Comptroller, OCC - 2015 to 2016 Examiner-in-Charge - U.S. Bank, OCC - 2010 to 2015 Deputy Comptroller - Large Bank Supervision, OCC - 2001 to 2010 Director of Citigroup since 2019

Shareholder Value:

Creation of shareholder value in Citigroup:

Since appointment as Independent Director: The present value of $1,000 invested on the appointment date of September 04, 2019 at close price of $60.83 is $1,193, including a capital gain of $128 and dividend reinvested of $65.

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Diana L. Taylor

Independent Director

Vice Chair, Solera Capital LLC - 2014 to 2018

Managing Director, Wolfensohn Fund Management, L.P. - 2007 to 2014

Superintendent of Banks, State of New York - 2003 to 2007

Deputy Secretary, Governor Pataki, State of New York - 2002 to 2003

Chief Financial Officer, Long Island Power Authority - 2001 to 2002

Vice President, KeySpan Energy - 1999 to 2001

Assistant Secretary, Governor Pataki, State of New York - 1996 to 1999

Executive Vice President, Muriel Siebert & Company - 1993 to 1994

President, M.R. Beal & Company - 1988 to 1993 and 1995 to 1996

Director of Citigroup since 2009

Other Directorships: Brookfield Asset Management and Sotheby's

Previous Directorships within the last five years: Brookfield Office Properties

Other Activities: Accion (Chair), AMFAR, Columbia Business School (Board of Overseers), Girls Educational & Mentoring Services (GEMS) (Member), Hudson River Park Trust (Chair), Friends of Hudson River Park, Ideas42, International Women's Health Coalition, Mailman School of Public Health (Board of Overseers), Mayo Clinic (Member), The After School Corporation (Member), Economic Club of New York, Council on Foreign Relations (Member) and Hot Bread Kitchen

Shareholder Value:

Creation of shareholder value in Citigroup:

Date of appointment: January 01, 2005

In the last 10 years the average annualized return to shareholders was 6.4%. The present value of $1,000 (PV1000) invested 10 years ago is now $1,864, a gain of $638 and dividend reinvested of $226.

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Ernesto Zedillo

Independent Director

Director, Center for the Study of Globalization and Professor in the Field of International Economics and Politics, Yale University - September 2002 to present President of Mexico - 1994 to 2000 Secretary of Education, Government of Mexico - 1992 to 1993 Secretary of Economic Programming and the Budget, Government of Mexico - 1988 to 1992 Undersecretary of the Budget, Government of Mexico 1987 to 1988 Banco de Mexico Economist, Deputy Manager of Economic Research, Director General of FICORCA, Deputy Director - 1978 to 1987 Director of Citigroup since 2010 Other Directorships: Alcoa Corp., Procter & Gamble Company, and Grupo Prisa Previous Directorships within the last five years: None Other Activities: BP (Member of International Advisory Board), Credit Suisse Research Institute (Advisor), The Group of Thirty (Member), Inter-American Dialogue (Co-Chair of Board), Natural Resource Governance Institute (Chair of the Board), and Presidential Counselor of Laureate International Universities

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Alexander Wynaendts

Independent Director

Chief Executive Officer and Chairman of the Management and Executive Boards, Aegon N.V. - 2008 to 2020 Chief Operating Officer, Aegon N.V. - 2007 to 2008 Head, International Growth Strategy, New Markets, Aegon N.V. - 2003 to 2007 Executive Vice President, Group Business Development, Aegon N.V. - 1998 to 2003 Senior Vice President, Group Business Development, Aegon N.V. - 1997 to 1998 Various Roles, ABN AMRO Bank N.V. - 1984 to 1997 Director of Citigroup since 2019 Other Directorships: Air France-KLM SA and Aegon N.V. Other Activities: Rijksmuseum, Friends of the Mauritshuis Museum Foundation, Amsterdam VUMC Cancer Center, European Financial Services Round Table, Geneva Association, Pan-European Insurance Forum

Shareholder Value:

Creation of shareholder value in Citigroup:

Since appointment as Independent Director: The present value of $1,000 invested on the appointment date of September 04, 2019 at close price of $60.83 is $1,193, including a capital gain of $128 and dividend reinvested of $65.

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Peter Blair Henry

Independent Director

Dean, New York University, Leonard N. Stern School of Business - January 2010 to present

Faculty Member, Stanford University - 1997 to 2009

Fellow, National Science Foundation - 1993 to 1996

Director of Citigroup since 2015

Director of Citibank, N.A. since 2015

Other Directorships: None

Previous Directorships within the last five years: Kraft Foods Inc. and Kraft Foods Group, Inc. (split into two companies in October 2012)

Other Activities: British-American Business Council, Council on Foreign Relations (Board), National Bureau of Economic Research (Board), and the Economic Club of New York (Board)

Shareholder Value:

Creation of shareholder value in Citigroup:

Date of appointment: July 01, 2015

In the last 5 years the average annualized return to shareholders was 18.0%. The present value of $1,000 (PV1000) invested 5 years ago is now $2,285, a gain of $1,007 and dividend reinvested of $278.

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Karen Peetz

Chief Administrative Officer

Karen Peetz joined Citi in 2020 as Chief Administrative Officer. In this role she oversees Citi's Project Management Office, including its remediation efforts, and Citi's regulatory engagement globally. Previously, Karen spent almost 20 years at BNY Mellon, ultimately becoming the President of the firm until her departure in 2016. While President, she oversaw the company's global client management group, covering the firm's top 500 clients worldwide; regional management (Asia Pacific, Europe, Middle East and Africa and Latin America); and its treasury services business. She also led the company's Human Resources, global innovation and regulatory oversight efforts.

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Rohan Weerasinghe

Corporate Secretary

Rohan Weerasinghe joined Citi as General Counsel and Corporate Secretary in June 2012. A member of Citi's Executive Management Team, Rohan oversees Citi's global legal team, including business-unit general counsels, regional general counsels and corporate deputy general counsels.

Before Citi, Rohan was Senior Partner at Shearman & Sterling. An international law firm with approximately 900 lawyers and offices in 20 cities around the globe, Shearman & Sterling advises corporations, financial institutions and governments. He joined Shearman & Sterling in 1977, became a partner in 1985 and served as Senior Partner from 2005 to 2012. For the 35 years he was at Shearman & Sterling, he advised and represented financial institutions and corporations worldwide on issues including corporate governance, complex corporate transactions, and capital markets offerings, including IPOs and debt issues.

Rohan graduated from Harvard College in 1972 and received his M.B.A. and J.D. from Harvard Business School and Harvard Law School in 1977. He is a Trustee of the Carnegie Endowment for Peace and a director on the board of The Clearing House Association.

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SECTION 11 CORPORATE PROFILE

11.1 Activities

Citigroup Inc. (Citi) is a global diversified financial services holding company whose businesses provide a range of financial services to consumer and corporate customers. On January 16, 2009, the Company announced a realignment, for management and reporting purposes, into two businesses: Citicorp, primarily comprised of the Company's Global Institutional Bank and the Company's international regional consumer banks; and Citi Holdings, primarily comprised of the Company's brokerage and asset management business, local consumer finance business, and a special asset pool. The Company operates in five business segments: global cards, consumer banking, institutional clients group (ICG), global wealth management (GWM) and corporate/other.

11.2 Contact Details

Websitehttp://www.citigroup.com
Physical Address399 Park Avenue, New York, NY,10022
Phone+1 212 559-1000
Fax7933946
EmailInvestorRelations@citigroup.com.

11.3 Industry & Sector

Classification LevelName of Sector
Industry GroupBanking Services
IndustryBanks
Economic SectorFinancials
Business SectorBanking & Investment Services

11.4 North American Industry Classification System [NAICS]

Code: 522110

Industry Title: Commercial Banking

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Capital Gain/Loss from n Years Ago to n-1 Years Ago: Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Current Ratio: Current Assets/Current Liabiliites (times)

Dividend Yield: Dividend Per Share/Share Price (%)

Income during the n years (3/2/1): Dividends received during the Period

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

TTM: Trailing 12 Months

Volatility: Highest Price minus Lowest Price/Lowest Price (%)

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

CUSIP: 172967EC1

Source: www.BuySellSignals.com