Envestnet Asset Management Inc. Decreases Stock Position in Credit Suisse Group AG (NYSE:CS)

Envestnet Asset Management Inc. lowered its stake in Credit Suisse Group AG (NYSE:CSGet Rating) by 45.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 296,308 shares of the financial services provider’s stock after selling 242,989 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Credit Suisse Group were worth $1,680,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Pinnacle Wealth Planning Services Inc. purchased a new stake in Credit Suisse Group in the 2nd quarter worth $65,000. Aigen Investment Management LP purchased a new stake in shares of Credit Suisse Group during the 2nd quarter valued at about $407,000. Lake Street Advisors Group LLC raised its position in shares of Credit Suisse Group by 26.9% during the 2nd quarter. Lake Street Advisors Group LLC now owns 16,843 shares of the financial services provider’s stock valued at $96,000 after buying an additional 3,575 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Credit Suisse Group by 2,901.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,384 shares of the financial services provider’s stock valued at $59,000 after buying an additional 10,038 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Credit Suisse Group by 13.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 328,327 shares of the financial services provider’s stock valued at $1,861,000 after buying an additional 40,116 shares in the last quarter. Hedge funds and other institutional investors own 13.07% of the company’s stock.

Credit Suisse Group Price Performance

Shares of CS stock opened at $4.25 on Friday. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $11.27 billion, a P/E ratio of -1.34 and a beta of 1.43. The company’s 50-day simple moving average is $4.48 and its two-hundred day simple moving average is $5.41. Credit Suisse Group AG has a one year low of $3.70 and a one year high of $10.56.

Analyst Ratings Changes

Several brokerages have recently issued reports on CS. Barclays restated an “underweight” rating and set a CHF 4 target price (down from CHF 5) on shares of Credit Suisse Group in a research report on Thursday, July 28th. Morgan Stanley decreased their target price on shares of Credit Suisse Group from CHF 6.60 to CHF 6 in a research report on Thursday, July 28th. Bank of America raised shares of Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 28th. AlphaValue lowered shares of Credit Suisse Group from a “buy” rating to a “sell” rating in a research report on Monday, November 7th. Finally, Societe Generale reduced their price objective on shares of Credit Suisse Group from CHF 5.50 to CHF 4.20 in a research report on Wednesday, October 5th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.24.

Credit Suisse Group Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding CS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Credit Suisse Group AG (NYSE:CSGet Rating).

Institutional Ownership by Quarter for Credit Suisse Group (NYSE:CS)

Receive News & Ratings for Credit Suisse Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Suisse Group and related companies with MarketBeat.com's FREE daily email newsletter.