Credit Suisse Group Target of Unusually High Options Trading (NYSE:CS)

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Credit Suisse Group AG (NYSE:CSGet Rating) saw some unusual options trading activity on Friday. Investors purchased 21,518 put options on the company. This is an increase of approximately 376% compared to the typical volume of 4,522 put options.

Institutional Trading of Credit Suisse Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CS. Northern Trust Corp increased its position in Credit Suisse Group by 8.7% during the 4th quarter. Northern Trust Corp now owns 1,984,137 shares of the financial services provider’s stock valued at $19,127,000 after purchasing an additional 158,924 shares during the period. Bank of America Corp DE increased its position in Credit Suisse Group by 11.3% during the 4th quarter. Bank of America Corp DE now owns 1,887,667 shares of the financial services provider’s stock valued at $18,197,000 after purchasing an additional 191,753 shares during the period. First Republic Investment Management Inc. increased its position in Credit Suisse Group by 33.3% during the 4th quarter. First Republic Investment Management Inc. now owns 26,709 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 6,672 shares during the period. Dimensional Fund Advisors LP increased its position in Credit Suisse Group by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,939,181 shares of the financial services provider’s stock valued at $47,614,000 after purchasing an additional 294,425 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Credit Suisse Group by 103.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 259,813 shares of the financial services provider’s stock worth $2,505,000 after buying an additional 132,010 shares during the period. Institutional investors and hedge funds own 13.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CS. Bank of America raised shares of Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Credit Suisse Group from CHF 7 to CHF 6 and set a “hold” rating for the company in a research report on Wednesday, August 31st. Redburn Partners cut shares of Credit Suisse Group from a “neutral” rating to a “sell” rating in a research report on Thursday, June 23rd. Morgan Stanley cut their price objective on shares of Credit Suisse Group from CHF 6.60 to CHF 6 in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Credit Suisse Group from CHF 6.60 to CHF 6.80 and gave the stock an “underweight” rating in a research report on Thursday, May 19th. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Credit Suisse Group has a consensus rating of “Hold” and an average target price of $6.59.

Credit Suisse Group Stock Performance

Credit Suisse Group stock opened at $5.42 on Friday. The business has a 50 day moving average of $5.44 and a 200-day moving average of $6.53. Credit Suisse Group has a 1 year low of $4.91 and a 1 year high of $11.04. The company has a debt-to-equity ratio of 3.43, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $14.37 billion, a P/E ratio of -3.79 and a beta of 1.39.

Credit Suisse Group (NYSE:CSGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10). Credit Suisse Group had a negative net margin of 16.11% and a negative return on equity of 1.96%. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $4.19 billion. On average, equities research analysts predict that Credit Suisse Group will post -0.7 earnings per share for the current year.

Credit Suisse Group Company Profile

(Get Rating)

Credit Suisse Group AG, together with its subsidiaries, provides various financial services in Switzerland, Europe, the Middle East, Africa, the Americas, and Asia Pacific. The company offers wealth management solutions, including investment advice and discretionary asset management services; risk management solutions, such as managed investment products; and wealth planning, succession planning, and trust services.

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