Banking, finance, and taxes
US Treasury To Dump More Citigroup Shares, Perhaps Fearing The Impact Of Financial Reform
Published:
Last Updated:
The US Treasury Department may have lost faith in Citigroup (NYSE: C), perhaps because the new financial reform laws will undermine its earnings. What one hand giveth, the other taketh away.
The Treasury means to get out of Citi shares before a likely string of bad earnings.
The U.S. Department of the Treasury today announced its continued sale of its holdings of Citigroup common stock. Treasury has entered into a third pre-arranged written trading plan under which Morgan Stanley, as Treasury’s sales agent, will have discretionary authority to sell 1.5 billion shares of Citigroup common stock under certain parameters. And, Treasury now owns about 5.1 billion shares of Citigroup common stock and expects to continue selling its shares in the market in an orderly fashion.
Douglas A. McIntyre
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.
Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.