Great West Life Assurance Co. Can lowered its stake in CIT Group Inc (DEL) (NYSE:CIT) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,482 shares of the financial services provider’s stock after selling 7,003 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.07% of CIT Group Inc (DEL) worth $4,550,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of CIT Group Inc (DEL) by 0.8% in the second quarter. Capital World Investors now owns 10,063,466 shares of the financial services provider’s stock worth $490,091,000 after acquiring an additional 75,966 shares during the last quarter. LSV Asset Management lifted its holdings in shares of CIT Group Inc (DEL) by 2.5% in the second quarter. LSV Asset Management now owns 3,430,812 shares of the financial services provider’s stock worth $167,080,000 after acquiring an additional 84,300 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of CIT Group Inc (DEL) by 3.4% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,989,090 shares of the financial services provider’s stock worth $146,614,000 after acquiring an additional 97,001 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CIT Group Inc (DEL) by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,534,004 shares of the financial services provider’s stock worth $74,706,000 after acquiring an additional 52,792 shares during the last quarter. Finally, New Mountain Vantage Advisers L.L.C. lifted its holdings in shares of CIT Group Inc (DEL) by 22.9% in the second quarter. New Mountain Vantage Advisers L.L.C. now owns 1,290,283 shares of the financial services provider’s stock worth $62,837,000 after acquiring an additional 240,184 shares during the last quarter.

A number of brokerages recently issued reports on CIT. Wells Fargo & Company began coverage on shares of CIT Group Inc (DEL) in a report on Friday, December 1st. They issued a “market perform” rating and a $52.00 price objective for the company. Zacks Investment Research lowered shares of CIT Group Inc (DEL) from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. BMO Capital Markets raised their price objective on shares of CIT Group Inc (DEL) from $31.00 to $35.00 and gave the company an “underperform” rating in a report on Wednesday, October 25th. Barclays dropped 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 report on Wednesday, October 25th. Finally, Oppenheimer reiterated a “buy” rating on shares of CIT Group Inc (DEL) in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $50.10.

Shares of CIT Group Inc (NYSE:CIT) opened at $49.84 on Friday. The firm has a market cap of $6,471.06, a P/E ratio of 16.16 and a beta of 1.49. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.20. CIT Group Inc has a 52-week low of $39.48 and a 52-week high of $51.19.

CIT Group Inc (DEL) (NYSE:CIT) last released its earnings results on Tuesday, October 24th. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. The business had revenue of $592.90 million during 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 quarter in the prior year, the firm posted $0.65 EPS. equities research analysts forecast that CIT Group Inc will post 2.92 earnings per share for the current fiscal year.

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

In other CIT Group Inc (DEL) news, EVP Denise M. Menelly sold 8,951 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 41,546 shares of the company’s stock, valued at approximately $1,946,014.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/great-west-life-assurance-co-can-reduces-stake-in-cit-group-inc-del-cit/1753589.html.

About CIT Group Inc (DEL)

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.

Want to see what other hedge funds are holding CIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CIT Group Inc (DEL) (NYSE:CIT).

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

Receive News & Ratings for CIT Group Inc (DEL) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CIT Group Inc (DEL) and related companies with Analyst Ratings Network's FREE daily email newsletter.