Cornerstone Advisors Inc. Raises Position in Credit Suisse Group AG (NYSE:CS)

Cornerstone Advisors Inc. raised its stake in shares of Credit Suisse Group AG (NYSE:CS) by 49.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,064 shares of the financial services provider’s stock after purchasing an additional 1,346 shares during the period. Cornerstone Advisors Inc.’s holdings in Credit Suisse Group were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. JustInvest LLC raised its position in Credit Suisse Group by 86.3% during the second quarter. JustInvest LLC now owns 21,771 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 10,082 shares during the period. Creative Planning raised its position in Credit Suisse Group by 17.5% during the second quarter. Creative Planning now owns 32,268 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 4,810 shares during the period. First Trust Advisors LP purchased a new stake in Credit Suisse Group during the second quarter valued at approximately $274,000. Envestnet Asset Management Inc. grew its stake in shares of Credit Suisse Group by 84.2% during the second quarter. Envestnet Asset Management Inc. now owns 425,901 shares of the financial services provider’s stock valued at $4,391,000 after buying an additional 194,685 shares during the last quarter. Finally, Ellevest Inc. grew its stake in shares of Credit Suisse Group by 101.0% during the second quarter. Ellevest Inc. now owns 11,994 shares of the financial services provider’s stock valued at $124,000 after buying an additional 6,028 shares during the last quarter. Institutional investors and hedge funds own 2.50% of the company’s stock.

Credit Suisse Group stock opened at $10.56 on Friday. The business has a fifty day moving average of $10.36 and a two-hundred day moving average of $10.22. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.97. The firm has a market cap of $26.23 billion, a P/E 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.

A number of research firms have recently commented on CS. UBS Group cut Credit Suisse Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Credit Suisse Group in a research note on Friday. Barclays reaffirmed an “underweight” rating on shares of Credit Suisse Group in a research note on Tuesday, July 21st. HSBC cut Credit Suisse Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating on shares of Credit Suisse Group in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.75.

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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