Earnest Partners LLC increased its stake in shares of Credit Suisse Group AG (NYSE:CS) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 7,545,831 shares of the financial services provider’s stock after purchasing an additional 162,808 shares during the quarter. Earnest Partners LLC’s holdings in Credit Suisse Group were worth $90,324,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cornerstone Advisors Inc. raised its holdings in shares of Credit Suisse Group by 134.4% in the first quarter. Cornerstone Advisors Inc. now owns 2,154 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,235 shares during the period. Camarda Financial Advisors LLC acquired a new stake in shares of Credit Suisse Group in the 2nd quarter worth $26,000. Zions Bancorporation N.A. acquired a new stake in shares of Credit Suisse Group in the 1st quarter worth $44,000. Pacer Advisors Inc. acquired a new stake in shares of Credit Suisse Group in the 2nd quarter worth $103,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Credit Suisse Group in the 1st quarter worth $109,000. Institutional investors and hedge funds own 2.63% of the company’s stock.
CS has been the subject of a number of recent analyst reports. Deutsche Bank reissued a “buy” rating on shares of Credit Suisse Group in a research report on Friday, August 30th. Zacks Investment Research cut Credit Suisse Group from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. ValuEngine cut Credit Suisse Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. BNP Paribas raised Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, BMO Capital Markets initiated coverage on Credit Suisse Group in a research report on Friday, July 5th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $13.00.
Shares of CS stock opened at $13.21 on Friday. The firm has a market capitalization of $32.35 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 0.56 and a beta of 1.40. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.36 and a quick ratio of 1.36. The business has a fifty day moving average of $11.71 and a 200 day moving average of $12.02. Credit Suisse Group AG has a 1 year low of $10.23 and a 1 year high of $15.99.
Credit Suisse Group (NYSE:CS) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The company had revenue of $5.57 billion during the quarter. Credit Suisse Group had a return on equity of 5.46% and a net margin of 7.09%. As a group, equities research analysts expect that Credit Suisse Group AG will post 1.33 earnings per share for the current year.
Credit Suisse Group Company Profile
Credit Suisse Group AG, through its subsidiaries, provides various financial services worldwide. It operates through Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, and Investment Banking & Capital Markets segments. The company offers private banking and wealth management solutions, including advisory, investment, financial planning, succession planning, and trust services; and financing and lending, and multi-shore platform solutions.
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