Credit Suisse Group (NYSE:CS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, February 19th.
According to Zacks, “CREDIT SUISSE GROUP and Winterthur offer investment products, private banking and financial advisory services, as well as insurance and pension solutions. Credit Suisse First Boston provides securities underwriting, sales and trading, financial advisory, investment research, venture capital and asset management services. Because they specialize in gaining a deep understanding of their clients’ financial needs, they know that no one’s needs are two-dimensional. 360° Choice. “
Other equities analysts have also issued research reports about the company. Societe Generale raised Credit Suisse Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Credit Suisse Group in a research report on Monday, November 20th. Morgan Stanley reiterated a “buy” rating on shares of Credit Suisse Group in a report on Tuesday, February 13th. Barclays assumed coverage on Credit Suisse Group in a report on Tuesday, January 16th. They issued an “underweight” rating on the stock. Finally, UBS Group restated a “buy” rating on shares of Credit Suisse Group in a research note on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Credit Suisse Group currently has a consensus rating of “Hold” and an average price target of $21.00.
Shares of Credit Suisse Group (NYSE CS) traded down $0.04 during trading on Monday, hitting $18.03. The stock had a trading volume of 1,930,961 shares, compared to its average volume of 3,740,000. Credit Suisse Group has a twelve month low of $13.28 and a twelve month high of $19.98. The company has a current ratio of 1.39, a quick ratio of 1.41 and a debt-to-equity ratio of 4.10. The firm has a market cap of $46,230.00, a price-to-earnings ratio of 30.56 and a beta of 1.39.
A number of hedge funds have recently modified their holdings of CS. Millennium Management LLC increased its position in Credit Suisse Group by 693.6% during the fourth quarter. Millennium Management LLC now owns 1,137,457 shares of the financial services provider’s stock worth $20,304,000 after buying an additional 994,133 shares in the last quarter. Earnest Partners LLC increased its position in Credit Suisse Group by 6.3% during the third quarter. Earnest Partners LLC now owns 7,588,346 shares of the financial services provider’s stock worth $119,896,000 after buying an additional 451,238 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Credit Suisse Group by 53.8% in the fourth quarter. Two Sigma Advisers LP now owns 819,500 shares of the financial services provider’s stock valued at $14,628,000 after purchasing an additional 286,499 shares during the period. Tocqueville Asset Management L.P. grew its position in shares of Credit Suisse Group by 22.8% in the third quarter. Tocqueville Asset Management L.P. now owns 1,423,532 shares of the financial services provider’s stock valued at $22,492,000 after purchasing an additional 264,053 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of Credit Suisse Group by 14.1% in the third quarter. Parametric Portfolio Associates LLC now owns 2,057,652 shares of the financial services provider’s stock valued at $32,511,000 after purchasing an additional 254,174 shares during the period. 3.00% of the stock is owned by hedge funds and other institutional investors.
About Credit Suisse Group
Credit Suisse Group AG (Credit Suisse) is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center. It offers a range of private banking and wealth management solutions to its clients in its Swiss Universal Bank, International Wealth Management and Asia Pacific divisions.
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