CIT Group Inc (DEL) (CIT) Shares Bought by FDx Advisors Inc.

FDx Advisors Inc. grew its holdings in CIT Group Inc (DEL) (NYSE:CIT) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,721 shares of the financial services provider’s stock after purchasing an additional 1,295 shares during the period. FDx Advisors Inc.’s holdings in CIT Group Inc (DEL) were worth $673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CIT. Korea Investment CORP purchased a new stake in shares of CIT Group Inc (DEL) in the second quarter valued at $122,000. Advisor Group Inc. lifted its holdings in shares of CIT Group Inc (DEL) by 2.2% in the second quarter. Advisor Group Inc. now owns 3,030 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 66 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of CIT Group Inc (DEL) by 8.2% in the second quarter. Pacer Advisors Inc. now owns 4,164 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 316 shares in the last quarter. Colony Group LLC purchased a new stake in shares of CIT Group Inc (DEL) in the second quarter valued at $207,000. Finally, Seven Eight Capital LP purchased a new stake in shares of CIT Group Inc (DEL) in the second quarter valued at $236,000.

In other CIT Group Inc (DEL) news, EVP Denise M. Menelly sold 8,951 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $46.84, for a total transaction of $419,264.84. Following the transaction, the executive vice president now directly owns 41,546 shares of the company’s stock, valued at $1,946,014.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Solk sold 1,460 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $45.00, for a total transaction of $65,700.00. Following the transaction, the insider now directly owns 14,832 shares in the company, valued at $667,440. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

A number of analysts have recently issued reports on CIT shares. BTIG Research restated a “buy” rating and issued a $57.00 target price on shares of CIT Group Inc (DEL) in a report on Tuesday, July 25th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “sell” rating and issued a $31.00 price target on shares of CIT Group Inc (DEL) in a research note on Friday, October 6th. Morgan Stanley upped their price target on shares of CIT Group Inc (DEL) from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 18th. BidaskClub downgraded shares of CIT Group Inc (DEL) from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research downgraded shares of CIT Group Inc (DEL) from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. CIT Group Inc (DEL) has a consensus rating of “Hold” and a consensus price target of $49.89.

CIT Group Inc (CIT) opened at $47.77 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.20. The company has a market cap of $6,180.00, a price-to-earnings ratio of 15.69 and a beta of 1.47. CIT Group Inc has a 1 year low of $39.48 and a 1 year high of $50.40.

CIT Group Inc (DEL) (NYSE:CIT) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.20. The firm had revenue of $592.90 million for the quarter, compared to the consensus estimate of $488.00 million. CIT Group Inc (DEL) had a negative net margin of 20.05% and a positive return on equity of 6.22%. During the same period in the prior year, the business posted $0.65 earnings per share. equities analysts anticipate that CIT Group Inc will post 2.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.34%. This is an increase from CIT Group Inc (DEL)’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 9th. CIT Group Inc (DEL)’s dividend payout ratio is presently 457.14%.

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CIT Group Inc (DEL) Profile

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 Inc (DEL) (NYSE:CIT)

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