Timucuan Asset Management Inc. FL Buys New Stake in Credit Suisse Group AG (CS)

Timucuan Asset Management Inc. FL bought a new position in shares of Credit Suisse Group AG (NYSE:CS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,037 shares of the financial services provider’s stock, valued at approximately $152,000. Credit Suisse Group comprises 0.0% of Timucuan Asset Management Inc. FL’s portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Credit Suisse Group by 1,125.7% in the third quarter. JPMorgan Chase & Co. now owns 1,298,021 shares of the financial services provider’s stock valued at $19,392,000 after buying an additional 1,192,123 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Credit Suisse Group by 252.4% in the third quarter. Bank of New York Mellon Corp now owns 1,308,059 shares of the financial services provider’s stock valued at $19,542,000 after buying an additional 936,895 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Credit Suisse Group by 219.2% in the fourth quarter. SG Americas Securities LLC now owns 900,072 shares of the financial services provider’s stock valued at $9,775,000 after buying an additional 618,067 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Credit Suisse Group by 8.3% in the third quarter. Renaissance Technologies LLC now owns 4,515,988 shares of the financial services provider’s stock valued at $67,469,000 after buying an additional 344,200 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Credit Suisse Group in the fourth quarter valued at approximately $2,379,000. Institutional investors own 2.75% of the company’s stock.

CS traded down $0.01 during trading on Friday, hitting $12.02. 73,899 shares of the company’s stock were exchanged, compared to its average volume of 3,351,394. The company has a quick ratio of 1.39, a current ratio of 1.36 and a debt-to-equity ratio of 3.50. Credit Suisse Group AG has a 1 year low of $10.23 and a 1 year high of $18.33. The company has a market cap of $30.77 billion, a P/E ratio of 22.28, a P/E/G ratio of 0.14 and a beta of 1.33.

CS has been the subject of a number of analyst reports. Goldman Sachs Group reissued a “buy” rating on shares of Credit Suisse Group in a research report on Tuesday, January 1st. Morgan Stanley lowered shares of Credit Suisse Group from an “overweight” rating to an “equal” rating in a research report on Tuesday, November 27th. Zacks Investment Research upgraded shares of Credit Suisse Group from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. ValuEngine upgraded shares of Credit Suisse Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Berenberg Bank upgraded shares of Credit Suisse Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $16.50.

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Credit Suisse Group Profile

Credit Suisse Group AG, together with its subsidiaries, provides various financial services worldwide. It operates through six segments: Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, and Strategic Resolution Unit. 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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