Northwestern Mutual Wealth Management Co. reduced its stake in shares of Credit Suisse Group AG (NYSE:CS – Get Rating) by 75.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,297 shares of the financial services provider’s stock after selling 19,475 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Credit Suisse Group were worth $49,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Credit Agricole S A acquired a new stake in Credit Suisse Group during the 4th quarter worth $29,000. CWM LLC increased its stake in Credit Suisse Group by 391.2% in the first quarter. CWM LLC now owns 3,581 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 2,852 shares during the period. Covestor Ltd acquired a new position in Credit Suisse Group in the fourth quarter valued at $50,000. Retirement Planning Co of New England Inc. acquired a new position in Credit Suisse Group in the fourth quarter valued at $66,000. Finally, Evolution Wealth Advisors LLC acquired a new position in Credit Suisse Group in the first quarter valued at $79,000. 13.58% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CS. StockNews.com lowered shares of Credit Suisse Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Redburn Partners lowered shares of Credit Suisse Group from a “neutral” rating to a “sell” rating in a research note on Thursday, June 23rd. Berenberg Bank lowered shares of Credit Suisse Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Royal Bank of Canada lowered their target price on shares of Credit Suisse Group from CHF 6.50 to CHF 6 and set a “sector perform” rating on the stock in a report on Thursday, July 28th. Finally, Morgan Stanley lowered their target price on shares of Credit Suisse Group from CHF 6.60 to CHF 6 in a report on Thursday, July 28th. Seven research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.84.
Credit Suisse Group Stock Down 3.9 %
CS stock opened at $5.23 on Friday. The company has a market cap of $13.86 billion, a P/E ratio of -3.66 and a beta of 1.39. Credit Suisse Group AG has a 52 week low of $5.05 and a 52 week high of $11.04. The company’s 50-day moving average price is $5.57 and its 200 day moving average price is $6.78. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.43.
Credit Suisse Group (NYSE:CS – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The financial services provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Credit Suisse Group had a negative return on equity of 1.96% and a negative net margin of 16.11%. On average, research analysts expect that Credit Suisse Group AG will post -0.7 earnings per share for the current fiscal year.
Credit Suisse Group Company Profile
Credit Suisse Group AG, together with its subsidiaries, provides various financial services in Switzerland, Europe, the Middle East, Africa, the Americas, and Asia Pacific. The company offers wealth management solutions, including investment advice and discretionary asset management services; risk management solutions, such as managed investment products; and wealth planning, succession planning, and trust services.
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