ZWJ Investment Counsel Inc. lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 17.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,022 shares of the bank’s stock after buying an additional 21,910 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Citizens Financial Group were worth $8,596,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Citizens Financial Group during the second quarter worth $3,415,046,000. Dimensional Fund Advisors LP lifted its stake in Citizens Financial Group by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after purchasing an additional 28,602 shares in the last quarter. Amundi lifted its stake in Citizens Financial Group by 31.2% in the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after purchasing an additional 875,666 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $223,386,000. Finally, Legal & General Group Plc bought a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $207,234,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.
Insider Activity at Citizens Financial Group
In related news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This trade represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.
Citizens Financial Group Price Performance
Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the business earned $0.92 earnings per share. Citizens Financial Group’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.29 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on CFG. Keefe, Bruyette & Woods raised their price objective on Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Barclays lifted their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Jefferies Financial Group boosted their target price on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Evercore restated an “outperform” rating and set a $78.00 price target on shares of Citizens Financial Group in a report on Thursday, October 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $79.08.
View Our Latest Stock Analysis on Citizens Financial Group
About Citizens Financial Group
Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.
The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.
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