Zurich Insurance Group Ltd FI Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Zurich Insurance Group Ltd FI reduced its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 54.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,163 shares of the software maker's stock after selling 70,868 shares during the period. Zurich Insurance Group Ltd FI's holdings in Intuit were worth $36,555,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC lifted its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter worth $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the fourth quarter worth $28,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

INTU stock opened at $670.86 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The firm has a market capitalization of $187.55 billion, a PE ratio of 65.13, a P/E/G ratio of 2.85 and a beta of 1.24. The firm has a 50-day moving average of $610.04 and a two-hundred day moving average of $619.55.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is presently 38.81%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INTU. Piper Sandler reissued an "overweight" rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Intuit in a report on Monday. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. 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. Finally, Jefferies Financial Group dropped their target price on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit has an average rating of "Moderate Buy" and a consensus target price of $720.16.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Intuit Company 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.

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