Morningstar Investment Services LLC Grows Position in Credit Suisse Group AG (NYSE:CS)

Morningstar Investment Services LLC grew its holdings in Credit Suisse Group AG (NYSE:CS) by 21.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,900 shares of the financial services provider’s stock after acquiring an additional 6,798 shares during the period. Morningstar Investment Services LLC’s holdings in Credit Suisse Group were worth $385,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. NEXT Financial Group Inc purchased a new stake in shares of Credit Suisse Group in the 1st quarter valued at $40,000. Howe & Rusling Inc. purchased a new stake in Credit Suisse Group during the first quarter worth $40,000. Cornerstone Advisors Inc. boosted its holdings in Credit Suisse Group by 49.5% during the second quarter. Cornerstone Advisors Inc. now owns 4,064 shares of the financial services provider’s stock worth $42,000 after buying an additional 1,346 shares in the last quarter. Ellevest Inc. boosted its holdings in Credit Suisse Group by 91.8% during the first quarter. Ellevest Inc. now owns 5,966 shares of the financial services provider’s stock worth $48,000 after buying an additional 2,856 shares in the last quarter. Finally, JustInvest LLC purchased a new stake in Credit Suisse Group during the first quarter worth $95,000. 2.50% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on CS. UBS Group downgraded shares of Credit Suisse Group from a “buy” rating to a “neutral” rating in a report on Tuesday, July 7th. Goldman Sachs Group reissued a “buy” rating on shares of Credit Suisse Group in a report on Tuesday, July 7th. Royal Bank of Canada reissued a “sector perform” rating on shares of Credit Suisse Group in a report on Friday. CIBC raised shares of Credit Suisse Group to an “outperformer” rating in a report on Wednesday, July 15th. Finally, Barclays reissued an “underweight” rating on shares of Credit Suisse Group in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Credit Suisse Group presently has a consensus rating of “Hold” and an average price target of $9.75.

NYSE:CS traded up $0.10 during trading hours on Friday, reaching $10.56. 3,773,649 shares of the company were exchanged, compared to its average volume of 2,174,847. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.97. The stock’s 50-day moving average is $10.36 and its 200-day moving average is $10.22. The firm has a market cap of $26.48 billion, a PE ratio of 6.21 and a beta of 1.44. Credit Suisse Group AG has a twelve month low of $6.47 and a twelve month high of $14.12.

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

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