Institutional Investors Are Betting On Cit Group Inc (NYSE:CIT)

May 19, 2017 - By Stephen Andrade

 Institutional Investors Are Betting On Cit Group Inc (NYSE:CIT)

Sentiment for Cit Group Inc (NYSE:CIT)

Cit Group Inc (NYSE:CIT) institutional sentiment increased to 1.14 in 2016 Q4. Its up 0.11, from 1.03 in 2016Q3. The ratio has improved, as 151 investment professionals started new or increased positions, while 133 decreased and sold their holdings in Cit Group Inc. The investment professionals in our partner’s database now possess: 189.63 million shares, up from 187.64 million shares in 2016Q3. Also, the number of investment professionals holding Cit Group Inc in their top 10 positions increased from 15 to 17 for an increase of 2. Sold All: 34 Reduced: 99 Increased: 100 New Position: 51.

CIT Group Inc. is a bank holding firm (BHC) and a financial holding firm (FHC). The company has market cap of $9.56 billion. The Company, together with its subsidiaries, provides financing, leasing and advisory services to middle market companies in a range of industries in North America. It currently has negative earnings. The Company’s divisions include Commercial Banking, Consumer Banking, Non-Strategic Portfolios, and Corporate and Other.

About 2.51 million shares traded. CIT Group Inc. (NYSE:CIT) has risen 6.00% since April 19, 2017 and is uptrending. It has by 0.00% the S&P500.

Analysts await CIT Group Inc. (NYSE:CIT) to report earnings on July, 27. They expect $0.60 EPS, down 33.33 % or $0.30 from last year’s $0.9 per share. CIT’s profit will be $122.02M for 19.59 P/E if the $0.60 EPS becomes a reality. After $0.54 actual EPS reported by CIT Group Inc. for the previous quarter, Wall Street now forecasts 11.11 % EPS growth.

First Trust Bank Ltd. holds 17.44% of its portfolio in CIT Group Inc. for 221,000 shares. Kingstown Capital Management L.P. owns 1.85 million shares or 7.74% of their US portfolio. Moreover, Owl Creek Asset Management L.P. has 6.49% invested in the company for 2.34 million shares. The New York-based Highline Capital Management L.P. has invested 5.15% in the stock. First Pacific Advisors Llc, a California-based fund reported 13.64 million shares.#img1#

Since January 1, 0001, it had 0 buys, and 3 insider sales for $1.11 million activity.

CIT Group Inc. (NYSE:CIT) Ratings Coverage

Ratings analysis reveals 29% of CIT Group’s analysts are positive. Out of 17 Wall Street analysts rating CIT Group, 5 give it “Buy”, 1 “Sell” rating, while 11 recommend “Hold”. The lowest target is $30 while the high is $57.0. The stock’s average target of $39.05 is -16.93% below today’s ($47.01) share price. CIT was included in 32 notes of analysts from July 23, 2015. Deutsche Bank initiated the shares of CIT in report on Thursday, January 21 with “Hold” rating. On Friday, August 21 the stock rating was initiated by DA Davidson with “Buy”. The company was maintained on Friday, July 29 by Barclays Capital. The stock of CIT Group Inc. (NYSE:CIT) earned “Neutral” rating by Credit Suisse on Monday, August 15. The firm has “Neutral” rating given on Friday, August 14 by Goldman Sachs. The firm has “Neutral” rating given on Wednesday, February 3 by Citigroup. The stock of CIT Group Inc. (NYSE:CIT) earned “Outperform” rating by Oppenheimer on Wednesday, November 4. The stock of CIT Group Inc. (NYSE:CIT) has “Hold” rating given on Friday, October 7 by Stifel Nicolaus. The rating was maintained by Oppenheimer on Tuesday, October 6 with “Outperform”. Stifel Nicolaus maintained CIT Group Inc. (NYSE:CIT) rating on Monday, November 9. Stifel Nicolaus has “Buy” rating and $50 target.

More important recent CIT Group Inc. (NYSE:CIT) news were published by: Seekingalpha.com which released: “Risk Arbitrage Today: Dutch Auction In CIT Group” on April 28, 2017, also Nasdaq.com published article titled: “Ex-Dividend Reminder: CIT Group, Invesco and Comfort Systems USA”, Prnewswire.com published: “CIT Announces Cash Tender Offer for Up To $2750000000 of its Common Stock” on April 27, 2017. More interesting news about CIT Group Inc. (NYSE:CIT) was released by: Prnewswire.com and their article: “CIT Announces First Quarter 2017 Results” with publication date: April 25, 2017.

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