Credit Suisse Group AG (NYSE:CS) Shares Sold by UBS Group AG

UBS Group AG reduced its holdings in Credit Suisse Group AG (NYSE:CS – Get Rating) by 4.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 849,370 shares of the financial services provider’s stock after selling 42,437 shares during the period. UBS Group AG’s holdings in Credit Suisse Group were worth $3,329,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Credit Suisse AG bought a new position in shares of Credit Suisse Group in the 2nd quarter worth about $28,000. CWM LLC lifted its position in shares of Credit Suisse Group by 202.1% in the 3rd quarter. CWM LLC now owns 9,024 shares of the financial services provider’s stock worth $35,000 after buying an additional 6,037 shares during the last quarter. Performa Ltd US LLC lifted its position in shares of Credit Suisse Group by 950.0% in the 3rd quarter. Performa Ltd US LLC now owns 10,500 shares of the financial services provider’s stock worth $41,000 after buying an additional 9,500 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Credit Suisse Group by 70.3% in the 2nd quarter. Captrust Financial Advisors now owns 7,931 shares of the financial services provider’s stock worth $45,000 after buying an additional 3,273 shares during the last quarter. Finally, PDS Planning Inc bought a new stake in Credit Suisse Group in the 3rd quarter valued at about $48,000. 11.20% of the stock is currently owned by institutional investors.

Credit Suisse Group Stock Performance

Credit Suisse Group stock opened at $3.03 on Friday. The firm’s 50 day simple moving average is $3.27 and its 200-day simple moving average is $3.97. The company has a market cap of $9.43 billion, a P/E ratio of -1.09 and a beta of 1.38. The company has a debt-to-equity ratio of 3.47, a current ratio of 1.53 and a quick ratio of 1.38. Credit Suisse Group AG has a fifty-two week low of $2.70 and a fifty-two week high of $8.35.

Credit Suisse Group (NYSE:CS – Get Rating) last posted its quarterly earnings results on Thursday, February 9th. The financial services provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.30 billion. Credit Suisse Group had a negative return on equity of 3.99% and a negative net margin of 33.10%. As a group, equities research analysts predict that Credit Suisse Group AG will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CS. Royal Bank of Canada began coverage on shares of Credit Suisse Group in a research report on Monday, December 19th. They issued a “sector perform” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Credit Suisse Group from CHF 5.50 to CHF 3.80 and set a “neutral” rating on the stock in a research report on Thursday, December 1st. AlphaValue downgraded shares of Credit Suisse Group from a “buy” rating to a “sell” rating in a research report on Monday, November 7th. Bank Of America (Bofa) upgraded shares of Credit Suisse Group from a “neutral” rating to a “buy” rating and set a CHF 3.60 price objective on the stock in a research report on Friday, December 9th. Finally, StockNews.com raised shares of Credit Suisse Group from a “sell” rating to a “hold” rating in a research note on Monday, February 13th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Credit Suisse Group presently has an average rating of “Hold” and a consensus price target of $5.39.

Credit Suisse Group Profile

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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.