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

Shares of Credit Suisse Group AG (NYSE:CS – Get Rating) have been assigned a consensus recommendation of “Hold” from the fourteen analysts that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $3.63.

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

Credit Suisse Group Stock Performance

NYSE:CS opened at $0.87 on Thursday. The stock has a 50-day moving average price of $0.93 and a 200 day moving average price of $2.51. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.79. Credit Suisse Group has a 12-month low of $0.82 and a 12-month high of $7.35. The stock has a market capitalization of $2.70 billion, a P/E ratio of 1.34 and a beta of 1.27.

Credit Suisse Group Increases Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, April 24th. Stockholders of record on Tuesday, April 11th were paid a dividend of $0.0547 per share. The ex-dividend date was Monday, April 10th. This is an increase from Credit Suisse Group’s previous — dividend of $0.05. This represents a dividend yield of 4.5%.

Institutional Trading of Credit Suisse Group

A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in shares of Credit Suisse Group by 324.9% during the first 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 increased its position in shares of Credit Suisse Group by 39.7% in the 1st quarter. Two Sigma Investments LP now owns 13,413,630 shares of the financial services provider’s stock valued at $11,935,000 after acquiring an additional 3,810,643 shares during the period. Kopernik Global Investors LLC raised its stake in Credit Suisse Group by 91.2% in the 4th quarter. Kopernik Global Investors LLC now owns 9,736,174 shares of the financial services provider’s stock worth $29,598,000 after acquiring an additional 4,643,341 shares during the last quarter. Two Sigma Advisers LP grew its stake in Credit Suisse Group by 60.8% during the 1st quarter. Two Sigma Advisers LP now owns 8,527,900 shares of the financial services provider’s stock valued at $7,588,000 after purchasing an additional 3,225,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Credit Suisse Group by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 5,804,027 shares of the financial services provider’s stock valued at $22,752,000 after purchasing an additional 334,234 shares during the period. Hedge funds and other institutional investors own 11.20% of the company’s stock.

About Credit Suisse Group

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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.