Citigroup Inc Stock Price, News & Analysis

Citi has facilitated a historic conversion of four US tax-managed mutual funds to active ETFs for Dimensional Fund Advisors, totaling $29 billion in assets. The ETFs include Dimensional U.S. Equity ETF, Dimensional U.S. Small Cap ETF, Dimensional U.S. Targeted Value ETF, and Dimensional U.S. Core Equity 2 ETF, listed on June 14, 2021. Citi has expanded its long-standing partnership with Dimensional, enhancing its global custody and fund services. This conversion is expected to set a precedent for future mutual fund to ETF transitions in the industry.

Citigroup will release its second quarter results on July 14, 2021, at 8:00 AM ET, followed by a review via live webcast at 10:00 AM ET. The press release and related materials will be accessible on Citigroup's investor relations website. Investors can join the teleconference by dialing in with specific numbers for U.S. and international callers, and a replay will be available until July 21, 2021. Citigroup serves 200 million customer accounts and operates in over 160 countries, providing diverse financial products and services.

Citi’s Issuer Services has been appointed by Zhangmen Education Inc., a top online education firm in China, as the depositary bank for its American Depositary Shares (ADS) program. This program is linked to an approximately $48 million IPO of ADSs, priced at $11.50 each. The ADSs, listed under the symbol “ZME,” represent 9 Class A ordinary shares. Citi aims to provide exceptional services to Zhangmen and its investors, highlighting its strong position in the global ADS market.

Citi has launched the Citi Custom Cash Card, a no annual fee cash back card that automatically adjusts to spending habits, rewarding cardholders with 5% cash back on their top eligible category each billing cycle, up to $500, and 1% cash back on other purchases. New cardmembers can earn a $200 cash back bonus after spending $750 in the first 3 months. The card aims to meet the needs of Millennials, who often have varying spending habits, with categories including restaurants, groceries, and travel.

Citibank, N.A. has announced the redemption of $1,750,000,000 in 3.400% Notes and $750,000,000 in Floating Rate Notes, both due July 2021, effective June 23, 2021. The redemption aligns with Citibank's liability management strategy, enhancing its funding efficiency and capital structure. Post-redemption, these notes will no longer accrue interest. Citibank will continue to evaluate opportunities for future redemptions or repurchases based on economic value and market conditions.

Citi has been appointed by Centessa Pharmaceuticals to serve as the depositary bank for its American Depositary Receipt (ADR) program. Centessa's American Depositary Shares (ADSs) are listed on the Nasdaq under the symbol 'CNTA'. Dirk Jones from Citi expressed enthusiasm for supporting Centessa's ADR program and enhancing investor outreach through their global equity distribution network. Centessa aims to innovate the drug development process by applying an asset-centric R&D model across its ten subsidiaries, backed by centralized infrastructure.

Mark Mason, the Chief Financial Officer of Citi, will present at the 2021 Morgan Stanley US Financials Conference on June 15, 2021, starting at approximately 3:30 p.m. (Eastern). A live webcast of the presentation will be accessible at www.citigroup.com/citi/investor. Following the event, a replay and transcript will also be made available.

Citi operates globally, serving approximately 200 million customer accounts across over 160 countries, offering a range of financial services including banking, investment banking, and wealth management.

Citi and AT&T have announced a multi-year renewal of their consumer co-brand credit card partnership in the U.S. This agreement will enhance customer engagement by continuing to offer innovative products like the AT&T Access Card. The card provides rewards such as 2X ThankYou Points on eligible purchases. Citi, a leading global bank with around 200 million customer accounts, aims to deepen its collaboration with AT&T, benefiting a digitally engaged consumer base.

Citi Global Wealth Investments has released its Mid-Year Outlook 2021 report titled Traveling to the post-COVID world: New portfolios for a new economy. The report highlights a robust recovery driven by government stimulus and vaccine effectiveness, along with the impact of digitization, climate change, and U.S.-China competition on investment opportunities. Citi advises clients to reassess their allocations, moving from early-cycle stocks to sectors like health care and dividend growth, while maintaining caution regarding COVID mutations and cybersecurity risks.