Northwestern Mutual Wealth Management Co. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,105 shares of the bank’s stock after selling 10,053 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Citizens Financial Group were worth $1,409,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wedbush Securities Inc. purchased a new stake in shares of Citizens Financial Group during the second quarter worth approximately $206,000. Trustmark Bank Trust Department increased its stake in shares of Citizens Financial Group by 4.9% during the second quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock worth $300,000 after acquiring an additional 198 shares during the period. New Mexico Educational Retirement Board raised its holdings in Citizens Financial Group by 6.5% during the second quarter. New Mexico Educational Retirement Board now owns 21,200 shares of the bank’s stock worth $1,485,000 after purchasing an additional 1,300 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in Citizens Financial Group by 1.1% in the second quarter. Royal London Asset Management Ltd. now owns 169,048 shares of the bank’s stock valued at $11,845,000 after purchasing an additional 1,893 shares during the period. Finally, Toth Financial Advisory Corp boosted its holdings in Citizens Financial Group by 227.1% in the 2nd quarter. Toth Financial Advisory Corp now owns 27,080 shares of the bank’s stock valued at $1,897,000 after purchasing an additional 18,800 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.
Citizens Financial Group Trading Down 0.0%
Shares of CFG stock opened at $70.81 on Friday. The stock has a market cap of $29.82 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.64 and a beta of 0.66. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a fifty-two week low of $47.96 and a fifty-two week high of $75.33. The business has a fifty day simple moving average of $71.48 and a 200-day simple moving average of $65.80.
Citizens Financial Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were given a $0.46 dividend. The ex-dividend date was Thursday, July 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio is currently 39.91%.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. UBS Group increased their price objective on Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Morgan Stanley increased their price target on shares of Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Stephens raised their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Barclays upped their target price on shares of Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average price target of $79.25.
Get Our Latest Stock Analysis on CFG
Insider Activity at Citizens Financial Group
In other news, CEO Bruce Van Saun sold 129,369 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their position. The sale 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 Company 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.
Featured Articles
- Five stocks we like better than Citizens Financial Group
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
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).
Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.
