Citigroup shares gain for an eighth straight session on Friday, female employees are paid 29% less than males, bank says

January 22, 2019 9:33 am

Last week Citigroup Inc (C) disclosed that its female employees were paid 29% less than men on a global median basis.

Citigroup shares closed higher for an eighth consecutive trading session in New York on Friday. The stock went up 1.04% ($0.65) to $63.12, after touching an intraday high at $63.19, or a price level not seen since December 4th ($64.64).

Shares of Citigroup Inc have risen 21.24% so far in 2019 compared with a 6.54% gain for the benchmark index, S&P 500 (SPX).

In 2018, Citigroup’s stock retreated 30.04%, thus, it underperformed the S&P 500, which registered a 6.24% loss.

According to Citigroup, citing an internal analysis, the median pay for the bank’s female employees worldwide represented only 71% of the median for male employees.

At the same time, the median pay for minorities in the United States represented 93% of the median for non-minorities.

On the other hand, in similar job positions in the same location, women on average earn 99% of what male employees earn, the Wall Street bank noted.

By the end of 2021, Citigroup aims to ensure that women hold at least 40% of roles at assistant vice president level through to managing director level.

Additionally, the bank aims to ensure that black employees hold at least 8% of roles at assistant vice president level through to managing director level in the United States.

At present, over 50% of Citi’s global workforce are women, while more than 45% of the group’s employees in the United States are minorities.

According to CNN Money, the 26 analysts, offering 12-month forecasts regarding Citigroup Inc’s stock price, have a median target of $76.00, with a high estimate of $92.00 and a low estimate of $49.00. The median estimate represents a 20.41% upside compared to the closing price of $63.12 on January 18th.

The same media also reported that 15 out of 28 surveyed investment analysts had rated Citigroup Inc’s stock as “Buy”, while 7 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

Weekly Pivot Levels

By using the traditional method of calculation, the weekly levels of importance for Citigroup Inc (C) are presented as follows:

Central Pivot Point – $60.67
R1 – $65.64
R2 – $68.16
R3 – $73.13
R4 – $78.10

S1 – $58.15
S2 – $53.18
S3 – $50.66
S4 – $48.14

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