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

Citizens Financial Group Inc. RI reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,934 shares of the software maker’s stock after selling 74 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intuit were worth $9,960,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC purchased a new position in shares of Intuit during the 3rd quarter valued at approximately $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intuit during the 3rd quarter valued at approximately $26,000. MCF Advisors LLC raised its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Steward Financial Group LLC raised its position in shares of Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after acquiring an additional 20 shares in the last quarter. Finally, Aspire Private Capital LLC raised its position in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after acquiring an additional 39 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of INTU opened at $636.55 on Friday. The firm has a market capitalization of $178.23 billion, a price-to-earnings ratio of 64.95, a price-to-earnings-growth ratio of 3.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The stock’s fifty day moving average is $640.26 and its 200-day moving average is $603.18.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio is currently 36.73%.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer upped their price target on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. Stifel Nicolaus increased their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Susquehanna increased their target price on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $650.23.

About Intuit

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.