Citizens Financial Group Inc. RI Raises Stake in Intuit Inc. (NASDAQ:INTU)

Citizens Financial Group Inc. RI raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,112 shares of the software maker’s stock after purchasing an additional 689 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intuit were worth $8,869,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Intuit by 15.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 1,483 shares of the software maker’s stock worth $922,000 after buying an additional 197 shares in the last quarter. Mayflower Financial Advisors LLC lifted its holdings in shares of Intuit by 7.3% in the third quarter. Mayflower Financial Advisors LLC now owns 368 shares of the software maker’s stock worth $229,000 after buying an additional 25 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Intuit by 6.5% in the third quarter. Baker Avenue Asset Management LP now owns 360 shares of the software maker’s stock worth $224,000 after buying an additional 22 shares in the last quarter. Ashton Thomas Securities LLC lifted its holdings in shares of Intuit by 4.1% in the third quarter. Ashton Thomas Securities LLC now owns 1,518 shares of the software maker’s stock worth $943,000 after buying an additional 60 shares in the last quarter. Finally, Catalytic Wealth RIA LLC lifted its holdings in shares of Intuit by 46.4% in the third quarter. Catalytic Wealth RIA LLC now owns 1,240 shares of the software maker’s stock worth $770,000 after buying an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 213,111 shares of company stock valued at $137,327,184 over the last three months. 2.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INTU. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Trading Down 4.9 %

NASDAQ INTU opened at $579.78 on Tuesday. The company’s 50-day moving average price is $601.27 and its 200-day moving average price is $624.52. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $162.08 billion, a PE ratio of 56.29, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Announces Dividend

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

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.