Dalton Greiner Hartman Maher & Co. Decreases Position in CIT Group Inc. (NYSE:CIT)

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Dalton Greiner Hartman Maher & Co. decreased its holdings in shares of CIT Group Inc. (NYSE:CIT) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,854 shares of the financial services provider’s stock after selling 15,177 shares during the quarter. Dalton Greiner Hartman Maher & Co.’s holdings in CIT Group were worth $6,610,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Royal Bank of Canada lifted its stake in CIT Group by 11.9% during the second quarter. Royal Bank of Canada now owns 1,110,591 shares of the financial services provider’s stock worth $58,351,000 after purchasing an additional 117,674 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in CIT Group by 841.7% in the second quarter. Nuveen Asset Management LLC now owns 1,017,569 shares of the financial services provider’s stock valued at $53,463,000 after buying an additional 909,510 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in CIT Group by 19.4% in the third quarter. Wedge Capital Management L L P NC now owns 651,436 shares of the financial services provider’s stock valued at $29,517,000 after buying an additional 106,044 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in CIT Group by 17.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 588,880 shares of the financial services provider’s stock valued at $26,682,000 after buying an additional 87,722 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in CIT Group by 239.2% in the second quarter. AQR Capital Management LLC now owns 516,195 shares of the financial services provider’s stock valued at $27,121,000 after buying an additional 363,999 shares during the last quarter. Hedge funds and other institutional investors own 99.65% of the company’s stock.

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on CIT Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. TheStreet upgraded CIT Group from a “c+” rating to a “b” rating in a research note on Friday, November 29th. Finally, ValuEngine upgraded CIT Group from a “strong sell” rating to a “sell” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $59.20.

Shares of NYSE CIT opened at $45.26 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.13. CIT Group Inc. has a twelve month low of $40.34 and a twelve month high of $54.02. The stock has a 50 day moving average of $45.48 and a two-hundred day moving average of $45.78. The stock has a market cap of $4.28 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.88 and a beta of 1.59.

CIT Group (NYSE:CIT) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.08. CIT Group had a return on equity of 8.99% and a net margin of 15.11%. The company had revenue of $454.00 million during the quarter, compared to analysts’ expectations of $460.02 million. During the same quarter in the previous year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts predict that CIT Group Inc. will post 5 earnings per share for the current year.

In related news, CEO Ellen R. Alemany bought 30,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $25.00 per share, with a total value of $750,000.00. Following the completion of the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at approximately $750,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John J. Fawcett bought 14,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $350,000.00. Following the acquisition, the executive vice president now owns 14,000 shares of the company’s stock, valued at approximately $350,000. The disclosure for this purchase can be found here. In the last three months, insiders bought 48,600 shares of company stock worth $1,215,000. Corporate insiders own 0.42% of the company’s stock.

CIT Group Company Profile

CIT Group Inc operates as the holding company for CIT Bank, N.A. that provides banking and related services to commercial and individual customers. The company operates through Commercial Banking and Consumer Banking segments. The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; equipment leasing and secured financing to railroads and non-rail companies; equipment financing to small businesses.

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Institutional Ownership by Quarter for CIT Group (NYSE:CIT)

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