Ladenburg Thalmann Financial Services Inc. raised its stake in Credit Suisse Group AG (NYSE:CS) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,583 shares of the financial services provider’s stock after acquiring an additional 10,828 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Credit Suisse Group were worth $737,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CS. Camarda Financial Advisors LLC acquired a new position in Credit Suisse Group in the 2nd quarter valued at $26,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Credit Suisse Group during the 2nd quarter worth $72,000. Pacer Advisors Inc. acquired a new position in shares of Credit Suisse Group during the 2nd quarter worth $103,000. Rockefeller Capital Management L.P. acquired a new position in shares of Credit Suisse Group during the 1st quarter worth $109,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Credit Suisse Group during the 2nd quarter worth $113,000. 2.63% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on CS shares. BNP Paribas raised Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. ValuEngine raised Credit Suisse Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank reissued a “buy” rating on shares of Credit Suisse Group in a report on Friday, August 30th. Goldman Sachs Group reissued a “buy” rating on shares of Credit Suisse Group in a report on Tuesday, August 6th. Finally, Exane BNP Paribas raised Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Credit Suisse Group currently has a consensus rating of “Hold” and an average price target of $15.00.
Credit Suisse Group (NYSE:CS) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $5.57 billion during the quarter. Credit Suisse Group had a return on equity of 5.46% and a net margin of 7.09%. On average, research analysts forecast that Credit Suisse Group AG will post 1.34 earnings per share for the current year.
Credit Suisse Group Profile
Credit Suisse Group AG, through its subsidiaries, provides various financial services worldwide. It operates through Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, and Investment Banking & Capital Markets segments. The company offers private banking and wealth management solutions, including advisory, investment, financial planning, succession planning, and trust services; and financing and lending, and multi-shore platform solutions.
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