According to a regulatory filing by Citigroup Inc (C), the annual pay received by the banks Chief Executive Officer, Michael Corbat, in 2017 was 369 times greater than the median annual pay of all its employees.
Citigroup shares closed lower for a fourth consecutive trading session on Thursday. The stock edged down 0.18% ($0.13) to $73.34, after touching an intraday low at $73.01, or a price level not seen since March 7th ($72.86).
In the week ended on March 11th the shares of the financial group added 3.30% to their market value compared to a week ago, which marked the third gain out of four weeks.
However, due to the recent string of losses, the stock has extended its slump to 2.85% so far during the current month, following a 3.81% drop in February. The latter has been the worst monthly performance since January 2017, when the stock retreated 6.06%.
For the entire past year, the shares of the NYSE-listed financial holding company rose 25.21%, thus, outperforming S&P 500 (+19.42%). In 2016, Citigroup surged 14.84%, which again outstripped gains generated by the underlying index (+9.54%).
Corbat received $17.8 million in total compensation for 2017 compared to a median annual total compensation of $48 249 for all Citigroup employees.
In February, the financial group said that the CEOs annual compensation for 2017 had been increased by as much as 48%. In comparison, chief executives of other Wall Street banks received annual pay raises of between 5% and 20%, Reuters reported.
According to CNN Money, the 29 analysts, offering 12-month forecasts regarding Citigroup Inc’s stock price, have a median target of $84.00, with a high estimate of $101.00 and a low estimate of $65.00. The median estimate is a 14.54% surge compared to the closing price of $73.34 on March 15th.
The same media also reported that 14 out of 31 surveyed investment analysts had rated Citigroup Inc’s stock as “Buy”, while 13 – as “Hold”. On the other hand, 2 analysts had recommended selling the stock.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Citigroup stock are presented as follows:
R1 – $73.41
R2 – $73.48
R3 (Range Resistance – Sell) – $73.56
R4 (Long Breakout) – $73.77
R5 (Breakout Target 1) – $74.03
R6 (Breakout Target 2) – $74.13
S1 – $73.27
S2 – $73.20
S3 (Range Support – Buy) – $73.12
S4 (Short Breakout) – $72.91
S5 (Breakout Target 1) – $72.65
S6 (Breakout Target 2) – $72.55
By using the traditional method of calculation, the weekly levels of importance for Citigroup Inc (C) are presented as follows:
Central Pivot Point – $75.06
R1 – $77.42
R2 – $78.73
R3 – $81.09
R4 – $83.45
S1 – $73.75
S2 – $71.39
S3 – $70.08
S4 – $68.77