Munich Reinsurance Co Stock Corp in Munich lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 62.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,009 shares of the bank’s stock after acquiring an additional 40,000 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Citizens Financial Group were worth $6,237,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Citizens Financial Group during the fourth quarter worth $355,909,000. AQR Capital Management LLC boosted its position in shares of Citizens Financial Group by 56.9% in the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock worth $451,075,000 after purchasing an additional 2,799,050 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Citizens Financial Group by 89.4% in the 4th quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank’s stock worth $276,372,000 after purchasing an additional 2,232,806 shares in the last quarter. Amundi grew its stake in Citizens Financial Group by 136.4% during the 4th quarter. Amundi now owns 3,513,388 shares of the bank’s stock worth $205,217,000 after buying an additional 2,027,255 shares during the last quarter. Finally, Capital International Investors grew its stake in Citizens Financial Group by 32.3% during the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock worth $467,389,000 after buying an additional 1,953,372 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on CFG shares. UBS Group raised their price target on Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore restated an “outperform” rating and set a $80.00 price objective on shares of Citizens Financial Group in a report on Monday. Royal Bank Of Canada increased their price objective on shares of Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Robert W. Baird reissued a “neutral” rating and set a $72.00 target price on shares of Citizens Financial Group in a research report on Monday. Finally, Truist Financial upped their price target on shares of Citizens Financial Group from $69.00 to $72.00 and gave the company a “hold” rating in a research note on Wednesday, June 24th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus price target of $74.35.
Insider Transactions at Citizens Financial Group
In related news, 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 transaction of $376,068.00. Following the completion of the transaction, the insider directly owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.67% of the stock is owned by corporate insiders.
Citizens Financial Group Trading Down 4.5%
Shares of NYSE:CFG opened at $68.54 on Thursday. Citizens Financial Group, Inc. has a 52-week low of $45.90 and a 52-week high of $72.94. The stock has a market cap of $28.98 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 0.57 and a beta of 0.67. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $65.49 and a 200-day moving average price of $63.05.
Citizens Financial Group (NYSE:CFG – Get Free Report) last issued its earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Citizens Financial Group’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts predict that Citizens Financial Group, Inc. will post 5.22 EPS for the current year.
Citizens Financial Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 43.50%.
About Citizens Financial Group
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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