ABN Amro Investment Solutions Purchases 16,579 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• ABN Amro Investment Solutions increased its stake in Citizens Financial Group by 268.8% in the fourth quarter, buying 16,579 additional shares and bringing its total holding to 22,746 shares worth about $1.33 million.
• Citizens Financial Group reported strong quarterly results, with earnings of $1.13 per share beating estimates and revenue rising 12% year over year to $2.17 billion. Analysts now expect the company to earn 5.19 EPS for the current fiscal year.
• The bank also paid a quarterly dividend of $0.46 per share, equal to an annualized yield of 2.9%, while Wall Street remains broadly positive with a consensus rating of Moderate Buy and a price target of $70.88.

ABN Amro Investment Solutions grew its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 268.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,746 shares of the bank's stock after buying an additional 16,579 shares during the quarter. ABN Amro Investment Solutions' holdings in Citizens Financial Group were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Channing Capital Management LLC bought a new stake in shares of Citizens Financial Group during the third quarter valued at approximately $7,528,000. Envestnet Asset Management Inc. grew its stake in shares of Citizens Financial Group by 25.7% during the third quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank's stock valued at $36,553,000 after purchasing an additional 140,641 shares during the last quarter. National Pension Service grew its stake in shares of Citizens Financial Group by 33.5% during the third quarter. National Pension Service now owns 135,208 shares of the bank's stock valued at $7,188,000 after purchasing an additional 33,923 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Citizens Financial Group by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank's stock valued at $29,968,000 after purchasing an additional 25,180 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of Citizens Financial Group during the fourth quarter valued at approximately $2,412,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Trading Up 0.2%

Shares of NYSE:CFG opened at $62.93 on Friday. Citizens Financial Group, Inc. has a 12 month low of $38.80 and a 12 month high of $68.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The company's fifty day simple moving average is $61.76 and its 200 day simple moving average is $60.04. The firm has a market cap of $26.61 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.50 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business posted $0.77 earnings per share. The firm's quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts forecast that Citizens Financial Group, Inc. will post 5.19 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group's payout ratio is presently 43.50%.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Lamonica sold 13,258 shares of Citizens Financial Group stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at $9,632,956.84. The trade was a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CFG. Weiss Ratings raised shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Robert W. Baird raised shares of Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 price objective on the stock in a research note on Monday, March 9th. Morgan Stanley reduced their price objective on shares of Citizens Financial Group from $80.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. DA Davidson raised their price objective on shares of Citizens Financial Group from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Finally, Truist Financial raised their price objective on shares of Citizens Financial Group from $63.00 to $69.00 and gave the company a "hold" rating in a research note on Friday, April 17th. Nineteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.88.

About Citizens Financial Group

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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