Citigroup Inc (C) said earlier this week its total exposure to Russian assets equaled $5.4 billion at the end of December. That compares with $5.5 billion at the end of September.
According to Citi’s regulatory filing, the $5.4 billion exposure is 0.3% of the group’s assets in 2021.
As of December 31st, the financial group’s total third party exposure in Russia stood at about $8.2 billion.
“Citi continues to monitor the current Russia–Ukraine geopolitical situation and economic conditions and will mitigate its exposures and risks as appropriate,” the Wall Street bank said in a statement.
Citigroup shares closed lower for a second consecutive trading session in New York on Tuesday. The stock went down 1.08% ($0.64) to $58.59, after touching an intraday low at $57.92. The latter has been a price level not seen since December 20th 2021 ($57.59).
Shares of Citigroup Inc have retreated 2.98% so far in 2022 compared with a 9.65% loss for the benchmark index, S&P 500 (SPX).
In 2021, Citigroup Inc’s stock went down 2.06%, thus, it underperformed the S&P 500, which registered a 26.89% gain.
Analyst stock price forecast and recommendation
According to TipRanks, at least 10 out of 17 surveyed investment analysts had rated Citigroup Inc’s stock as “Buy”, while 7 – as “Hold”. The median price target on the stock stands at $76.66.