Trading at a still very cheap 7.0 times estimated 2023 earnings, Citigroup stock looks very reasonable in what remains a volatile stock market and in a sector that has dramatically lagged. Buffett bought a massive $2.5 billion worth of stock back in the summer of 2022.
Citigroup stock comes with a 4.56% dividend. The Oppenheimer price target is $87, another Wall Street high. The consensus target is $58.32, and Monday’s closing price of $44.74 was down well over 7% for the day.
Goldman Sachs
The white-glove Wall Street giant has had a rough go lately, as it strayed from its central business silos, but the stock looks to rebound the rest of the year. Goldman Sachs Group Inc. (NYSE: GS) provides a range of financial services for corporations, financial institutions, governments and individuals worldwide.
Its Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs. It offers middle-market lending, relationship lending and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in resale agreements. This segment also offers client execution activities for cash and derivative instruments; credit and interest rate products; and provision of mortgages, currencies, commodities and equities-related products, as well as underwriting services.
The Asset & Wealth Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies and commodities. It also, provides customized investment advisory solutions, as well as invests in corporate, real estate and infrastructure entities.
The Platform Solutions segment offers credit cards and point-of-sale financing for purchase of goods or services. This segment also provides cash management services, such as deposit-taking and payment solutions for corporate and institutional clients.
The dividend yield here is 3.17%. Bank of America has set its target price at $425, well above the $395.79 consensus target. Goldman Sachs stock closed on Monday at $315.51, down close to 4% on the day.
JPMorgan Chase
This stock trades at a still reasonable 12.0 times estimated 2023 earnings. JPMorgan Chase & Co. (NYSE: JPM) is one of the leading global financial services firms and one of the largest banking institutions in the United States, with about $2.6 trillion in assets. The company as it is today was formed through the merger of retail bank Chase Manhattan and investment bank J.P. Morgan.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
