Aperio Group LLC Has $5.21 Million Stake in CIT Group Inc. (CIT)

Aperio Group LLC lifted its stake in shares of CIT Group Inc. (NYSE:CIT) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,723 shares of the financial services provider’s stock after acquiring an additional 1,062 shares during the quarter. Aperio Group LLC’s holdings in CIT Group were worth $5,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of CIT. Advisor Group Inc. raised its position in shares of CIT Group by 2.2% during the second quarter. Advisor Group Inc. now owns 3,030 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 66 shares during the last quarter. Schroder Investment Management Group raised its position in shares of CIT Group by 82.0% during the third quarter. Schroder Investment Management Group now owns 3,063 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 1,380 shares during the last quarter. Colony Group LLC bought a new position in shares of CIT Group during the second quarter worth about $207,000. IFM Investors Pty Ltd bought a new position in shares of CIT Group during the third quarter worth about $236,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of CIT Group during the fourth quarter worth about $240,000.

Shares of CIT Group Inc. (NYSE:CIT) opened at $53.53 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.20. CIT Group Inc. has a one year low of $39.48 and a one year high of $53.76. The company has a market capitalization of $6,642.52, a P/E ratio of 20.59 and a beta of 1.42.

CIT Group (NYSE:CIT) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.18. CIT Group had a return on equity of 6.84% and a net margin of 14.60%. The firm had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $469.24 million. During the same quarter last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. equities research analysts expect that CIT Group Inc. will post 4.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.64 dividend on an annualized basis and a yield of 1.20%. CIT Group’s dividend payout ratio (DPR) is presently 24.62%.

A number of brokerages have weighed in on CIT. Barclays set a $53.00 target price on CIT Group and gave the stock a “hold” rating in a report on Friday, January 12th. Morgan Stanley lifted their target price on CIT Group from $54.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. Credit Suisse Group lifted their target price on CIT Group from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Wells Fargo & Co lifted their target price on CIT Group from $52.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. Finally, BMO Capital Markets upgraded CIT Group from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $49.00 to $35.00 in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $53.73.

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About CIT Group

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

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

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