Sumitomo Mitsui Trust Holdings Inc. Has $46.27 Million Stock Holdings in Citizens Financial Group Inc (NYSE:CFG)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Citizens Financial Group Inc (NYSE:CFG) by 10.4% during the second quarter, HoldingsChannel.com reports. The fund owned 1,833,286 shares of the bank’s stock after selling 213,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Citizens Financial Group were worth $46,272,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CFG. Amundi Pioneer Asset Management Inc. raised its position in shares of Citizens Financial Group by 2.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 567,631 shares of the bank’s stock valued at $18,448,000 after acquiring an additional 15,663 shares during the period. Quadrant Capital Group LLC raised its position in shares of Citizens Financial Group by 565.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,127 shares of the bank’s stock valued at $193,000 after acquiring an additional 4,357 shares during the period. Guggenheim Capital LLC raised its position in shares of Citizens Financial Group by 21.1% in the 4th quarter. Guggenheim Capital LLC now owns 175,096 shares of the bank’s stock valued at $7,111,000 after acquiring an additional 30,463 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Citizens Financial Group by 13.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,945 shares of the bank’s stock valued at $607,000 after acquiring an additional 1,795 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Citizens Financial Group by 7.5% in the 1st quarter. State of Alaska Department of Revenue now owns 164,618 shares of the bank’s stock valued at $3,095,000 after acquiring an additional 11,437 shares during the period. Institutional investors and hedge funds own 93.49% of the company’s stock.

Shares of CFG opened at $24.81 on Friday. The stock has a market capitalization of $10.58 billion, a P/E ratio of 9.51, a P/E/G ratio of 2.47 and a beta of 1.86. Citizens Financial Group Inc has a twelve month low of $14.12 and a twelve month high of $41.29. The company has a 50 day moving average of $24.70 and a 200-day moving average of $26.76. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 0.45.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.36. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Citizens Financial Group had a net margin of 14.58% and a return on equity of 5.85%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. On average, sell-side analysts anticipate that Citizens Financial Group Inc will post 1.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, July 28th. This represents a $1.56 annualized dividend and a dividend yield of 6.29%. Citizens Financial Group’s dividend payout ratio is presently 40.63%.

CFG has been the topic of a number of analyst reports. Citigroup cut their price target on shares of Citizens Financial Group from $34.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Wedbush increased their target price on Citizens Financial Group from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Bank of America increased their target price on Citizens Financial Group from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. UBS Group raised Citizens Financial Group from a “neutral” rating to a “buy” rating in a research note on Monday, May 4th. Finally, ValuEngine cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.77.

Citizens Financial Group Company 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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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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