Jane Street Group LLC bought a new stake in CIT Group Inc (DEL) (NYSE:CIT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 46,401 shares of the financial services provider’s stock, valued at approximately $2,276,000.

Several other hedge funds and other institutional investors have also modified their holdings of CIT. Janus Henderson Group PLC raised its position in shares of CIT Group Inc (DEL) by 4,090.9% in the second quarter. Janus Henderson Group PLC now owns 1,199,346 shares of the financial services provider’s stock valued at $58,408,000 after buying an additional 1,170,728 shares during the last quarter. Jacobs Asset Management LLC raised its position in shares of CIT Group Inc (DEL) by 78.6% in the third quarter. Jacobs Asset Management LLC now owns 844,175 shares of the financial services provider’s stock valued at $41,407,000 after buying an additional 371,609 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of CIT Group Inc (DEL) by 61.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 866,738 shares of the financial services provider’s stock valued at $42,514,000 after buying an additional 330,875 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of CIT Group Inc (DEL) by 209.7% in the third quarter. JPMorgan Chase & Co. now owns 485,271 shares of the financial services provider’s stock valued at $23,661,000 after buying an additional 328,586 shares during the last quarter. Finally, Redwood Capital Management LLC raised its position in shares of CIT Group Inc (DEL) by 296.4% in the second quarter. Redwood Capital Management LLC now owns 396,400 shares of the financial services provider’s stock valued at $19,305,000 after buying an additional 296,400 shares during the last quarter.

Shares of CIT Group Inc (CIT) opened at $49.84 on Friday. CIT Group Inc has a 12-month low of $39.48 and a 12-month high of $51.19. The stock has a market cap of $6,541.95, a PE ratio of 16.34 and a beta of 1.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.05 and a current ratio of 1.05.

CIT Group Inc (DEL) (NYSE:CIT) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.20. CIT Group Inc (DEL) had a negative net margin of 20.05% and a positive return on equity of 6.22%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same period last year, the business earned $0.65 earnings per share. analysts predict that CIT Group Inc will post 2.92 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, November 9th. This is a positive change from CIT Group Inc (DEL)’s previous quarterly dividend of $0.15. CIT Group Inc (DEL)’s dividend payout ratio (DPR) is -27.00%.

A number of equities research analysts have recently commented on CIT shares. Zacks Investment Research cut shares of CIT Group Inc (DEL) from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. BMO Capital Markets restated a “sell” rating and set a $31.00 price objective on shares of CIT Group Inc (DEL) in a research report on Friday, October 6th. Morgan Stanley raised their price objective on shares of CIT Group Inc (DEL) from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 18th. Barclays cut their price objective on shares of CIT Group Inc (DEL) from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. Finally, Oppenheimer restated a “buy” rating on shares of CIT Group Inc (DEL) in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. CIT Group Inc (DEL) presently has a consensus rating of “Hold” and a consensus price target of $50.10.

In other CIT Group Inc (DEL) news, EVP Denise M. Menelly sold 8,951 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $46.84, for a total transaction of $419,264.84. Following the completion of the transaction, the executive vice president now owns 41,546 shares of the company’s stock, valued at $1,946,014.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.47% of the company’s stock.

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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.

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

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