Unigestion Holding SA decreased its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 67.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,127 shares of the bank’s stock after selling 29,434 shares during the period. Unigestion Holding SA’s holdings in Citizens Financial Group were worth $500,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CFG. Nuveen Asset Management LLC boosted its position in shares of Citizens Financial Group by 67,645.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,455,935 shares of the bank’s stock valued at $299,002,000 after purchasing an additional 8,443,453 shares in the last quarter. Eminence Capital LP bought a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $87,590,000. Nomura Holdings Inc. bought a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $56,779,000. Prudential Financial Inc. boosted its position in shares of Citizens Financial Group by 75.0% during the 2nd quarter. Prudential Financial Inc. now owns 2,796,300 shares of the bank’s stock valued at $98,877,000 after purchasing an additional 1,198,821 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its position in shares of Citizens Financial Group by 1,469.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 933,552 shares of the bank’s stock valued at $33,010,000 after purchasing an additional 874,067 shares in the last quarter. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Charles John Koch bought 15,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was bought at an average cost of $32.45 per share, for a total transaction of $486,750.00. Following the completion of the acquisition, the director now directly owns 68,781 shares in the company, valued at approximately $2,231,943.45. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.
CFG has been the subject of several research reports. Citigroup lowered shares of Citizens Financial Group from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $39.00 to $32.00 in a research report on Tuesday, October 8th. Morgan Stanley reduced their price objective on shares of Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Zacks Investment Research upgraded shares of Citizens Financial Group from a “strong sell” rating to a “hold” rating and set a $30.00 price objective for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Argus upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $38.65.
Shares of CFG traded up $0.33 during midday trading on Friday, hitting $38.52. The stock had a trading volume of 4,371,992 shares, compared to its average volume of 4,464,166. Citizens Financial Group Inc has a fifty-two week low of $27.62 and a fifty-two week high of $38.62. The business has a 50-day simple moving average of $35.33 and a two-hundred day simple moving average of $35.00. The firm has a market cap of $16.94 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.62.
Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 18th. The bank reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Citizens Financial Group had a net margin of 22.29% and a return on equity of 8.85%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that Citizens Financial Group Inc will post 3.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Tuesday, October 29th. Citizens Financial Group’s payout ratio is 40.45%.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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