Citigroup Inc. Increases Stock Holdings in Credit Suisse Group AG (NYSE:CS)

Posted by Defense World Staff on Sep 5th, 2023

Citigroup Inc. raised its position in Credit Suisse Group AG (NYSE:CS – Free Report) by 1,607.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,254,904 shares of the financial services provider’s stock after acquiring an additional 3,064,287 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Credit Suisse Group worth $2,896,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of Credit Suisse Group by 6.8% in the third quarter. Bank of New York Mellon Corp now owns 49,762 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 3,164 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Credit Suisse Group by 70.3% in the second quarter. Captrust Financial Advisors now owns 7,931 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 3,273 shares in the last quarter. US Bancorp DE increased its position in shares of Credit Suisse Group by 8.9% during the first quarter. US Bancorp DE now owns 50,292 shares of the financial services provider’s stock worth $395,000 after acquiring an additional 4,130 shares during the period. Credit Suisse AG acquired a new stake in shares of Credit Suisse Group in the second quarter valued at $28,000. Finally, Sei Investments Co. boosted its holdings in Credit Suisse Group by 1.8% in the first quarter. Sei Investments Co. now owns 274,767 shares of the financial services provider’s stock valued at $2,179,000 after purchasing an additional 4,883 shares during the period. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Credit Suisse Group in a research report on Sunday. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.22.

Check Out Our Latest Analysis on Credit Suisse Group

Credit Suisse Group Stock Performance

NYSE:CS opened at $0.89 on Tuesday. Credit Suisse Group AG has a 12 month low of $0.82 and a 12 month high of $6.36. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market capitalization of $2.77 billion, a PE ratio of 1.37 and a beta of 1.27. The business’s fifty day moving average price is $0.89 and its 200 day moving average price is $1.17.

About Credit Suisse Group

(Free Report)

Credit Suisse Group AG is a holding company, which engages in the provision of financial services. It operates through the following four divisions: Wealth Management, Investment Bank, Swiss Bank and Asset Management and four geographic regions: Switzerland, Europe, the Middle East and Africa (EMEA), Asia Pacific, and Americas.