Formuepleje A S lowered its position in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 79.1% during the second quarter, HoldingsChannel reports. The firm owned 24,029 shares of the bank’s stock after selling 91,116 shares during the period. Formuepleje A S’s holdings in Citizens Financial Group were worth $1,684,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC acquired a new position in Citizens Financial Group during the first quarter worth about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Citizens Financial Group during the fourth quarter worth about $29,000. Elevation Wealth Partners LLC grew its stake in Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after acquiring an additional 323 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in Citizens Financial Group during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.
Wall Street Analyst Weigh In
CFG has been the topic of a number of research reports. DA Davidson reissued a “neutral” rating on shares of Citizens Financial Group in a research note on Friday, August 14th. Truist Financial upped their price target on Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Jefferies Financial Group increased their price target on Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. lifted their price objective on Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.25.
Insider Transactions at Citizens Financial Group
In other news, CEO Bruce Van Saun sold 129,369 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This 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 currently owned by company insiders.
Citizens Financial Group Stock Performance
NYSE:CFG opened at $70.81 on Monday. The company’s 50-day moving average is $71.48 and its two-hundred day moving average is $65.81. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $29.82 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.64 and a beta of 0.66.
Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. Analysts forecast that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.
Citizens Financial Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.
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.
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