Amundi Decreases Stake in Citizens Financial Group, Inc. $CFG

Key Points

• Amundi cut its Citizens Financial Group stake by 20% in the first quarter, selling 703,235 shares and retaining 2.81 million shares worth approximately $168.5 million. Institutional investors collectively own 94.9% of CFG.
• Citizens Financial Group reported quarterly EPS of $1.30, exceeding estimates by $0.05, while revenue rose 12.1% year over year to $2.28 billion. The bank also declared a quarterly dividend of $0.46 per share, equating to a 2.6% annualized yield.
• Analysts remain broadly positive, with 17 Buy ratings and three Holds, a “Moderate Buy” consensus, and an average price target of $79.05. The stock opened at $71.72, near its 52-week high of $74.70.

Amundi reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 20.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,810,153 shares of the bank's stock after selling 703,235 shares during the quarter. Amundi owned 0.66% of Citizens Financial Group worth $168,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CFG. University of Texas Texas AM Investment Management Co. bought a new position in Citizens Financial Group during the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC bought a new stake in Citizens Financial Group in the 1st quarter worth approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Citizens Financial Group in the 4th quarter worth approximately $29,000. Activest Wealth Management raised its stake in Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock valued at $30,000 after buying an additional 504 shares during the last quarter. Finally, DV Equities LLC bought a new position in shares of Citizens Financial Group during the 4th quarter valued at $35,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $71.72 on Friday. The stock has a 50-day simple moving average of $68.26 and a two-hundred day simple moving average of $64.37. Citizens Financial Group, Inc. has a 52-week low of $45.90 and a 52-week high of $74.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $30.33 billion, a PE ratio of 15.56, a P/E/G ratio of 0.55 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the company earned $0.92 earnings per share. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts forecast that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Citizens Financial Group's dividend payout ratio (DPR) is presently 39.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CFG shares. Evercore reiterated an "outperform" rating and set a $80.00 price objective on shares of Citizens Financial Group in a research report on Monday, July 6th. Citigroup raised their target price on Citizens Financial Group from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Argus set a $80.00 price target on Citizens Financial Group in a research note on Wednesday. DA Davidson upped their price target on shares of Citizens Financial Group from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an "overweight" rating in a research note on Wednesday. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.05.

Insider Activity at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 1,140,763 shares of the company's stock, valued at $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. 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 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 transaction of $376,068.00. Following the transaction, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. The SEC filing for this sale provides additional information. 0.67% of the stock is owned by insiders.

Citizens Financial Group 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.

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