CIT Group Inc (DEL) (NYSE:CIT) EVP Denise M. Menelly sold 8,951 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $46.84, for a total value 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 approximately $1,946,014.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of CIT Group Inc (NYSE:CIT) opened at $45.88 on Friday. CIT Group Inc has a 1-year low of $35.60 and a 1-year high of $50.40. The firm has a market capitalization of $6,027.30, a PE ratio of 15.04 and a beta of 1.47. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.23.

CIT Group Inc (DEL) (NYSE:CIT) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.20. CIT Group Inc (DEL) had a positive return on equity of 5.89% and a negative net margin of 20.05%. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $488.00 million. During the same quarter last year, the firm posted $0.65 EPS. equities research analysts forecast that CIT Group Inc will post 2.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.64 annualized dividend and a dividend yield of 1.39%. This is a boost from CIT Group Inc (DEL)’s previous quarterly dividend of $0.15. CIT Group Inc (DEL)’s dividend payout ratio (DPR) is presently -25.32%.

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A number of research analysts have issued reports on CIT shares. BTIG Research restated a “buy” rating and issued a $57.00 price objective on shares of CIT Group Inc (DEL) in a research note on Tuesday, July 25th. They noted that the move was a valuation call. BMO Capital Markets restated a “sell” rating and issued a $31.00 price objective on shares of CIT Group Inc (DEL) in a research note on Friday, October 6th. CIBC reiterated an “outperform” rating on shares of CIT Group Inc (DEL) in a research note on Tuesday, July 11th. ValuEngine downgraded CIT Group Inc (DEL) from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Stephens upgraded CIT Group Inc (DEL) from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 17th. Two research 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 an average rating of “Hold” and a consensus target price of $49.89.

Several large investors have recently added to or reduced their stakes in CIT. Janus Henderson Group PLC raised its holdings in shares of CIT Group Inc (DEL) by 4,090.9% in the 2nd quarter. Janus Henderson Group PLC now owns 1,199,346 shares of the financial services provider’s stock valued at $58,408,000 after acquiring an additional 1,170,728 shares in the last quarter. Janus Capital Management LLC increased its position in shares of CIT Group Inc (DEL) by 4,757.9% during the 1st quarter. Janus Capital Management LLC now owns 513,776 shares of the financial services provider’s stock valued at $22,056,000 after purchasing an additional 503,200 shares during the last quarter. Redwood Capital Management LLC increased its position in shares of CIT Group Inc (DEL) by 296.4% during the 2nd quarter. Redwood Capital Management LLC now owns 396,400 shares of the financial services provider’s stock valued at $19,305,000 after purchasing an additional 296,400 shares during the last quarter. New Mountain Vantage Advisers L.L.C. increased its position in shares of CIT Group Inc (DEL) by 22.9% during the 2nd quarter. New Mountain Vantage Advisers L.L.C. now owns 1,290,283 shares of the financial services provider’s stock valued at $62,837,000 after purchasing an additional 240,184 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN bought a new position in shares of CIT Group Inc (DEL) during the 2nd quarter valued at about $9,979,000.

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.

Insider Buying and Selling by Quarter for CIT Group Inc (DEL) (NYSE:CIT)

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