ExodusPoint Capital Management LP boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 79.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 429,677 shares of the bank’s stock after purchasing an additional 190,122 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Citizens Financial Group were worth $25,097,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CFG. Norges Bank acquired a new stake in Citizens Financial Group during the 4th quarter worth about $355,909,000. Victory Capital Management Inc. grew its position in shares of Citizens Financial Group by 89.4% during the 4th quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank’s stock valued at $276,372,000 after acquiring an additional 2,232,806 shares during the period. Capital International Investors grew its position in shares of Citizens Financial Group by 32.3% during the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock valued at $467,389,000 after acquiring an additional 1,953,372 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Citizens Financial Group during the 3rd quarter valued at about $87,173,000. Finally, Zurich Insurance Group Ltd FI grew its position in shares of Citizens Financial Group by 326.3% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 2,082,961 shares of the bank’s stock valued at $110,730,000 after acquiring an additional 1,594,326 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CFG has been the topic of a number of analyst reports. Royal Bank Of Canada raised their target price on Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Citigroup restated a “buy” rating on shares of Citizens Financial Group in a research report on Friday, May 8th. Robert W. Baird upgraded Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Monday, March 9th. Stephens initiated coverage on Citizens Financial Group in a research report on Monday. They set an “equal weight” rating on the stock. Finally, Morgan Stanley dropped 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. Eighteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.88.
Insiders Place Their Bets
In related news, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider directly owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company’s stock.
Citizens Financial Group Trading Up 0.9%
Shares of Citizens Financial Group stock opened at $67.26 on Wednesday. The firm has a market capitalization of $28.44 billion, a PE ratio of 15.90, a P/E/G ratio of 0.53 and a beta of 0.68. Citizens Financial Group, Inc. has a twelve month low of $40.25 and a twelve month high of $68.79. The firm’s 50-day moving average price is $63.78 and its 200 day moving average price is $61.57. 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 (NYSE:CFG – Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. Citizens Financial Group’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $0.77 EPS. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.
Citizens Financial Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.7%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 43.50%.
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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Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG – Free Report).
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