Algebris UK Ltd. Has $29.53 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Algebris UK Ltd. reduced its stake in Citizens Financial Group by 43.9% in the fourth quarter, but still held 505,383 shares worth about $29.5 million.
• Citizens Financial Group beat quarterly earnings estimates, reporting EPS of $1.13 versus $1.10 expected, while revenue rose 12% year over year to $2.17 billion.
• The bank paid a $0.46 quarterly dividend recently, equal to a $1.84 annualized payout and a 2.9% yield; analysts currently rate the stock a Moderate Buy with an average target price of $70.88.

Algebris UK Ltd. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 43.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 505,383 shares of the bank's stock after selling 396,248 shares during the period. Citizens Financial Group makes up about 1.4% of Algebris UK Ltd.'s holdings, making the stock its 18th biggest position. Algebris UK Ltd. owned 0.12% of Citizens Financial Group worth $29,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Channing Capital Management LLC acquired a new stake in shares of Citizens Financial Group during the third quarter worth $7,528,000. Envestnet Asset Management Inc. raised its position 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 worth $36,553,000 after purchasing an additional 140,641 shares during the period. National Pension Service raised its position 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 worth $7,188,000 after purchasing an additional 33,923 shares during the period. Allspring Global Investments Holdings LLC raised its position 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 worth $29,968,000 after purchasing an additional 25,180 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $2,412,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Up 2.5%

NYSE:CFG opened at $62.85 on Thursday. The firm has a market capitalization of $26.58 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 0.49 and a beta of 0.70. Citizens Financial Group, Inc. has a 1-year low of $38.80 and a 1-year high of $68.79. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The business's fifty day moving average price is $61.59 and its 200 day moving average price is $59.93.

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

Citizens Financial Group Announces Dividend

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

Insider Activity

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the company's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider directly owned 165,971 shares of the company's stock, valued at $9,632,956.84. This represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michelle Moosally sold 6,050 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.67% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Argus upped their price target on Citizens Financial Group from $60.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, January 23rd. Jefferies Financial Group reissued a "buy" rating and set a $80.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $75.00 price target on shares of Citizens Financial Group in a research report on Tuesday, March 3rd. Royal Bank Of Canada upped their price target on Citizens Financial Group from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Finally, Weiss Ratings raised Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Nineteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $70.88.

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.

Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.