C's business restructuring efforts and focus on core operations provide a solid foundation for growth despite the volatile market backdrop.
In his February letter to shareholders, Warren Buffett announced a new record Berkshire Hathaway (BRK.A 0.01%) (BRK.B -0.09%) set in 2024: It paid more in taxes than any company ever paid the U.S. government in a single year. And that's despite significantly lower tax rates in recent years than throughout the history of Berkshire Hathaway.
Like other Wall Street banks, Citigroup is worried about the state of the U.S. economy, and recommend putting money elsewhere. For now.
The stock market was down big on Monday. As of 3:10 p.m.
OPCH, LMAT, C, FFIN and IBCP have been added to the Zacks Rank #1 (Strong Buy) List on March 4, 2025.
IBCP, FFIN and C made it to the Zacks Rank #1 (Strong Buy) income stocks list on March 4, 2025.
C has erroneously credited $81 trillion, instead of $280, to a client's account and has taken hours to reverse the transaction.
Earlier this month, Warren Buffett and his company, Berkshire Hathaway, disclosed what stocks they held at the end of the fourth quarter of 2024 in the company's 13F filing. Investors eagerly await this filing to see what moves the Oracle of Omaha and his team of investing lieutenants made each quarter.
Citigroup mistakenly credited a customer's account with $81 trillion last year when it meant to send just $280. The payment, which took place last April, was missed by two employees but caught 90 minutes after it was posted, the Financial Times reported Friday night.
Despite lower profitability metrics, Citi offers a compelling valuation and strategic improvements under Jane Fraser, enhancing shareholder value. Citi's restructuring focuses on core businesses, cost-cutting, and exiting non-core international markets, boosting operational efficiency. Valuation metrics indicate Citi's potential for growth, with a P/E ratio of 13.14, PEG of 0.28, and a $20 billion share buyback program.
Citigroup narrowly avoided what could have been one of the largest banking blunders in history after it mistakenly credited a client's account with $81 trillion instead of the intended $280.
Citigroup erroneously credited $81 trillion, instead of $280, to a customer's account and took hours to reverse the transaction, a "near miss" that shows up the bank's operational issues it has sought to fix, the Financial Times reported on Friday.