HighTower Advisors LLC raised its position in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 51.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 58,648 shares of the bank’s stock after acquiring an additional 20,008 shares during the period. HighTower Advisors LLC’s holdings in Citizens Financial Group were worth $3,426,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of CFG. Alyeska Investment Group L.P. purchased a new position in shares of Citizens Financial Group during the third quarter valued at approximately $87,173,000. Zurich Insurance Group Ltd FI boosted its position in shares of Citizens Financial Group by 326.3% during the third quarter. Zurich Insurance Group Ltd FI now owns 2,082,961 shares of the bank’s stock valued at $110,730,000 after buying an additional 1,594,326 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Citizens Financial Group by 160.4% during the fourth quarter. Artemis Investment Management LLP now owns 2,448,050 shares of the bank’s stock valued at $142,991,000 after buying an additional 1,508,070 shares during the last quarter. Impax Asset Management Group plc boosted its position in shares of Citizens Financial Group by 411.6% during the fourth quarter. Impax Asset Management Group plc now owns 1,729,587 shares of the bank’s stock valued at $101,025,000 after buying an additional 1,391,483 shares during the last quarter. Finally, Ninety One UK Ltd boosted its position in shares of Citizens Financial Group by 13.1% during the fourth quarter. Ninety One UK Ltd now owns 6,574,714 shares of the bank’s stock valued at $384,029,000 after buying an additional 763,098 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Citizens Financial Group from $68.00 to $68.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Morgan Stanley cut their target price on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 target price on shares of Citizens Financial Group in a research report on Tuesday, March 3rd. Finally, DA Davidson lifted their target price on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Nineteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.88.
Citizens Financial Group Stock Down 0.4%
CFG stock opened at $62.17 on Friday. The stock’s fifty day simple moving average is $62.39 and its two-hundred day simple moving average is $60.44. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. Citizens Financial Group, Inc. has a 1-year low of $39.40 and a 1-year high of $68.79. The stock has a market cap of $26.29 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.50 and a beta of 0.70.
Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Analysts expect that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.
Citizens Financial Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a $0.46 dividend. The ex-dividend date was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 3.0%. Citizens Financial Group’s payout ratio is presently 43.50%.
Insider Buying and Selling at Citizens Financial Group
In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the sale, the insider directly owned 165,971 shares in the company, valued at $9,632,956.84. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.67% of the company’s stock.
Citizens Financial Group Profile
Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.
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