// AST – IMS - [DMinute_ROS]

As Gabelli Hlthcare & Wellness (GRX) Share Value Declined, Holder Advisory Alpha Has Trimmed by $373,340 Its Stake; Northcoast Asset Management Has Decreased Holding in Cit Group New (CIT) as Valuation Declined

CIT Group Inc. (NYSE:CIT) Logo

Northcoast Asset Management Llc decreased its stake in Cit Group Inc New (CIT) by 37.68% based on its latest 2018Q3 regulatory filing with the SEC. Northcoast Asset Management Llc sold 18,880 shares as the company’s stock declined 19.92% with the market. The institutional investor held 31,229 shares of the consumer services company at the end of 2018Q3, valued at $1.61 million, down from 50,109 at the end of the previous reported quarter. Northcoast Asset Management Llc who had been investing in Cit Group Inc New for a number of months, seems to be less bullish one the $4.48 billion market cap company. The stock increased 0.57% or $0.24 during the last trading session, reaching $42. About 1.04 million shares traded. CIT Group Inc. (NYSE:CIT) has declined 12.03% since January 11, 2018 and is downtrending. It has underperformed by 12.03% the S&P500. Some Historical CIT News: 16/04/2018 – CIT Declares Dividends; 24/04/2018 – CIT GROUP – PRELIMINARY COMMON EQUITY TIER 1 CAPITAL RATIO DECREASED TO 14.0%, & PRELIMINARY TOTAL CAPITAL RATIO INCREASED TO 16.7%, AT MARCH 31, 2018; 28/03/2018 – NY Warn Notices: 3 / 28 / 2018 – Sodexo, Inc. at University Hospital of Brooklyn, SUNY Downstate Medical Center – New York Cit; 06/03/2018 – CIT GROUP INC – PRICES PUBLIC OFFERING ALSO OF $500 MLN AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES DUE 2025; 07/03/2018 – CIT Adds to Sales Team in Office Imaging; 09/03/2018 – Moody’s upgrades $170 Million of securities backed by manufactured housing collateral issued from 1995 to 2006; 07/05/2018 – CIT Serves as Sole Lead Arranger on $79M Financing for Onyx Renewable Partners; 30/05/2018 – CIT Presenting at Morgan Stanley Financials Conference Jun 13; 12/03/2018 – ONDECK’S BRAUSE FORMERLY W/ CIT GROUP; 14/03/2018 – CIT REPLACES PWC W/ DELOITTE AFTER REPORTING MATERIAL WEAKNESS

Advisory Alpha Llc decreased its stake in Gabelli Hlthcare & Wellness (GRX) by 19.37% based on its latest 2018Q3 regulatory filing with the SEC. Advisory Alpha Llc sold 37,334 shares as the company’s stock declined 7.08% with the market. The institutional investor held 155,437 shares of the company at the end of 2018Q3, valued at $1.57 million, down from 192,771 at the end of the previous reported quarter. Advisory Alpha Llc who had been investing in Gabelli Hlthcare & Wellness for a number of months, seems to be less bullish one the $ market cap company. The stock increased 0.71% or $0.07 during the last trading session, reaching $9.9. About 22,078 shares traded. The Gabelli Healthcare & Wellness Trust (NYSE:GRX) has risen 1.51% since January 11, 2018 and is uptrending. It has outperformed by 1.51% the S&P500.

More notable recent CIT Group Inc. (NYSE:CIT) news were published by: Prnewswire.com which released: “CIT to Announce Fourth Quarter 2018 Financial Results – PRNewswire” on January 10, 2019, also Prnewswire.com with their article: “CIT Completes Financing for Three Medical Office Buildings in Tennessee – PRNewswire” published on December 13, 2018, Prnewswire.com published: “CIT Provides Financing for Multifamily Building Acquisition and Renovation – PRNewswire” on January 08, 2019. More interesting news about CIT Group Inc. (NYSE:CIT) were released by: Prnewswire.com and their article: “CIT Bank Provides Grant to Neighborhood Housing Services of LA County – PRNewswire” published on January 10, 2019 as well as Prnewswire.com‘s news article titled: “CIT Donates 1.5 Million Meals this Holiday Season in Partnership with Feeding America – PRNewswire” with publication date: December 20, 2018.

Investors sentiment decreased to 0.67 in Q3 2018. Its down 0.24, from 0.91 in 2018Q2. It worsened, as 30 investors sold CIT shares while 119 reduced holdings. 42 funds opened positions while 58 raised stakes. 109.91 million shares or 4.76% less from 115.41 million shares in 2018Q2 were reported. Manufacturers Life Insurance The owns 796,257 shares or 0.04% of their US portfolio. Farmers Merchants Invests has 250 shares for 0% of their portfolio. Ancora Advisors Ltd Liability Corporation holds 700 shares or 0% of its portfolio. Amundi Pioneer Asset has 272,169 shares for 0.02% of their portfolio. Pnc Grp reported 16,307 shares. Sg Americas Secs has 0.01% invested in CIT Group Inc. (NYSE:CIT). Millennium Limited Com reported 1.59 million shares or 0.1% of all its holdings. Robeco Institutional Asset Management Bv has 0.03% invested in CIT Group Inc. (NYSE:CIT) for 141,772 shares. New York-based Quinn Opportunity Prtnrs Ltd Limited Liability Company has invested 0.2% in CIT Group Inc. (NYSE:CIT). Hollencrest reported 11,800 shares or 0.08% of all its holdings. 160,478 are owned by Wedge Capital Mgmt L Limited Partnership Nc. Cibc Asset Management invested 0% of its portfolio in CIT Group Inc. (NYSE:CIT). Highland Mgmt Lp reported 345,966 shares stake. Daiwa Secs Grp reported 4,200 shares stake. Tower Rech Limited (Trc) stated it has 0.01% of its portfolio in CIT Group Inc. (NYSE:CIT).

Northcoast Asset Management Llc, which manages about $1.62B US Long portfolio, upped its stake in Ishares Iboxx Hy Bd (HYG) by 189,297 shares to 229,719 shares, valued at $19.86M in 2018Q3, according to the filing. It also increased its holding in Ishares Tr 20 Treas Inde (TLT) by 50,615 shares in the quarter, for a total of 63,503 shares, and has risen its stake in Kaman Corp (NYSE:KAMN).

Among 21 analysts covering CIT Group (NYSE:CIT), 9 have Buy rating, 0 Sell and 12 Hold. Therefore 43% are positive. CIT Group had 78 analyst reports since July 23, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Thursday, January 21 by Deutsche Bank. The stock has “Buy” rating by Oppenheimer on Tuesday, July 25. The firm earned “Equal-Weight” rating on Monday, August 27 by Stephens. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Tuesday, December 12. The stock has “Buy” rating by BTIG Research on Tuesday, July 25. BTIG Research maintained the stock with “Buy” rating in Tuesday, October 24 report. The rating was maintained by Barclays Capital with “Equal-Weight” on Wednesday, October 25. The stock has “Neutral” rating by Sterne Agee CRT on Monday, March 28. The firm has “Underperform” rating by BMO Capital Markets given on Wednesday, October 25. The stock has “Hold” rating by Stifel Nicolaus on Friday, October 7.

Analysts await CIT Group Inc. (NYSE:CIT) to report earnings on January, 29. They expect $1.11 EPS, up 12.12% or $0.12 from last year’s $0.99 per share. CIT’s profit will be $118.51 million for 9.46 P/E if the $1.11 EPS becomes a reality. After $1.15 actual EPS reported by CIT Group Inc. for the previous quarter, Wall Street now forecasts -3.48% negative EPS growth.

Advisory Alpha Llc, which manages about $200.07 million and $393.77M US Long portfolio, upped its stake in Spdr Series Trust (SLYG) by 10,262 shares to 125,664 shares, valued at $7.27M in 2018Q3, according to the filing. It also increased its holding in Spdr Series Trust (SPYG) by 15,448 shares in the quarter, for a total of 322,419 shares, and has risen its stake in Spdr Series Trust (MDYG).

CIT Group Inc. (NYSE:CIT) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.