Cost basis is the total amount that you paid for an investment, such as a stock. A spin-off occurs when a company divides itself into two or more pieces. If you own stock in a company that has a spin-off, the cost basis you have in the original company is divided amongst the resulting divisions.

When did Citigroup buy travelers?

April 6, 1998
Merger of Citicorp and Travelers (1998–2001) On April 6, 1998, the merger between Citicorp and Travelers Group was announced to the world, creating a $140 billion firm with assets of almost $700 billion.

What happened to Citigroup stock in 2007?

Instead of trading for less than $5 a share, where Citigroup has languished despite improvements in profits and capital, the New York financial behemoth instantly became a $40 stock. Shares of the bank fell $1.04, or 2.3%, to $44.16.

Is travelers owned by Citigroup?

Twenty years ago this week, Citicorp — a commercial bank, and Travelers Group — a financial services company, merged to create Citigroup Inc.

Who bought Travelers Insurance?

Primerica
The new company, using the name Primerica, acquired Travelers Insurance and repurchased Shearson from American Express during 1992–93. Primerica then renamed itself Travelers Group.

Will Citigroup stock ever recover?

However, with recovery in the economy, both the sales & trading and investment banking revenues are expected to stabilize, hurting Citigroup’s top-line. Further, the interest rates are still below the pre-Covid-19 levels and are not expected to completely recover anytime soon.

Is Citigroup a good stock to buy?

Compared to these stocks Citigroup Inc. (NYSE:C) is more popular among hedge funds. Our overall hedge fund sentiment score for C is 72.3. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points.

When did Citigroup spin off Travelers Property Casualty?

Spin-off of Travelers Property Casualty Corp. On August 20, 2002, a total of 219,050,000 shares of class A common stock and 450,050,000 shares of class B common stock of Travelers Property Casualty Corp. (Travelers) were distributed to Citigroup stockholders of record as of the record date: August 9, 2002.

When was travelers common stock issued to Citigroup?

On August 20, 2002, a total of 219,050,000 shares of class A common stock and 450,050,000 shares of class B common stock of Travelers Property Casualty Corp. (Travelers) were distributed to Citigroup stockholders of record as of the record date: August 9, 2002.

How much is the basis in Citigroup?

Shares: 0.7334 shares of Citigroup Inc per each share Associates First Capital corp. and $7. Cash paid for fractions Basis Allocation: Basis in Citigroup Inc. received is same as previous basis in Associates First Capital.

How many shares of Citigroup are there per share?

Citigroup name. shares. Shares: 0.7334 shares of Citigroup Inc per each share Associates First Capital corp. and $7. Cash paid for fractions Basis Allocation: Basis in Citigroup Inc. received is same as previous basis in Associates First Capital.