Citizens Financial Group Inc. RI Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Citizens Financial Group Inc. RI raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,112 shares of the software maker’s stock after buying an additional 689 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intuit were worth $8,869,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after buying an additional 80,463 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Intuit by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,111 shares of company stock worth $137,327,184. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 4.9 %

Shares of NASDAQ:INTU opened at $579.78 on Tuesday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm has a market capitalization of $162.08 billion, a price-to-earnings ratio of 56.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day moving average price is $601.27 and its 200-day moving average price is $624.52.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit’s payout ratio is currently 38.81%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, BMO Capital Markets cut their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.