Credit Suisse Group AG (NYSE:CS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Credit Suisse Group AG (NYSE:CS – Get Rating) have earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $3.63.

Several research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Credit Suisse Group in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Morgan Stanley started coverage on Credit Suisse Group in a research note on Friday, January 27th. They set an “equal weight” rating on the stock. Citigroup downgraded Credit Suisse Group from a “buy” rating to a “neutral” rating in a research note on Thursday, February 16th. Finally, Kepler Capital Markets downgraded Credit Suisse Group from a “hold” rating to a “reduce” rating in a research report on Monday, February 13th.

Credit Suisse Group Stock Performance

NYSE:CS opened at $0.87 on Thursday. The firm’s fifty day simple moving average is $0.93 and its 200-day simple moving average is $2.51. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.79. The stock has a market cap of $2.70 billion, a PE ratio of 1.34 and a beta of 1.27. Credit Suisse Group has a fifty-two week low of $0.82 and a fifty-two week high of $7.35.

Credit Suisse Group Increases Dividend

The business also recently declared a — dividend, which was paid on Monday, April 24th. Shareholders of record on Tuesday, April 11th were issued a $0.0547 dividend. This represents a dividend yield of 4.5%. The ex-dividend date was Monday, April 10th. This is a positive change from Credit Suisse Group’s previous — dividend of $0.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CS. Renaissance Technologies LLC increased its position in Credit Suisse Group by 324.9% during the 1st quarter. Renaissance Technologies LLC now owns 51,972,488 shares of the financial services provider’s stock worth $46,245,000 after purchasing an additional 39,739,500 shares in the last quarter. Two Sigma Investments LP boosted its position in Credit Suisse Group by 113.6% during the 4th quarter. Two Sigma Investments LP now owns 9,602,987 shares of the financial services provider’s stock worth $29,193,000 after purchasing an additional 5,106,960 shares during the period. Kopernik Global Investors LLC raised its position in Credit Suisse Group by 43,788.6% in the third quarter. Kopernik Global Investors LLC now owns 5,092,833 shares of the financial services provider’s stock valued at $19,964,000 after purchasing an additional 5,081,229 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Credit Suisse Group by 60.8% during the first quarter. Two Sigma Advisers LP now owns 8,527,900 shares of the financial services provider’s stock worth $7,588,000 after purchasing an additional 3,225,000 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Credit Suisse Group by 1,607.6% during the 1st quarter. Citigroup Inc. now owns 3,254,904 shares of the financial services provider’s stock valued at $2,896,000 after buying an additional 3,064,287 shares during the period. Institutional investors and hedge funds own 11.20% of the company’s stock.

Credit Suisse Group Company 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.