Assenagon Asset Management S.A. trimmed its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 33.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 680,625 shares of the bank's stock after selling 338,386 shares during the period. Assenagon Asset Management S.A. owned about 0.16% of Citizens Financial Group worth $47,691,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Citizens Financial Group by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 6,078 shares of the bank's stock worth $355,000 after acquiring an additional 172 shares during the last quarter. Inscription Capital LLC raised its stake in Citizens Financial Group by 1.6% in the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank's stock valued at $637,000 after buying an additional 175 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank's stock valued at $1,150,000 after buying an additional 175 shares in the last quarter. MGO One Seven LLC lifted its holdings in Citizens Financial Group by 3.7% during the 4th quarter. MGO One Seven LLC now owns 5,270 shares of the bank's stock worth $308,000 after buying an additional 187 shares during the last quarter. Finally, Summit Financial LLC lifted its holdings in Citizens Financial Group by 2.5% during the 4th quarter. Summit Financial LLC now owns 7,719 shares of the bank's stock worth $451,000 after buying an additional 187 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.
Insider Activity at Citizens Financial Group
In related news, CEO Saun Bruce Van sold 129,369 shares of the company's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the transaction, the chief executive officer 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 legal filing with the SEC, which is available at this link. Also, insider Michelle Moosally sold 6,050 shares of the stock in a transaction on 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 owned 22,565 shares of the company's stock, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.67% of the company's stock.
Citizens Financial Group Trading Up 0.3%
Shares of CFG stock opened at $72.61 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $30.58 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.55 and a beta of 0.67. The business's 50 day moving average is $69.45 and its two-hundred day moving average is $64.86. Citizens Financial Group, Inc. has a twelve month low of $46.63 and a twelve month high of $74.70.
Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. Citizens Financial Group's quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.
Citizens Financial Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, July 30th. Citizens Financial Group's payout ratio is currently 39.91%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Morgan Stanley upped their price target on Citizens Financial Group from $73.00 to $79.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Argus set a $80.00 price objective on shares of Citizens Financial Group in a report on Wednesday, July 29th. Jefferies Financial Group boosted their price objective on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. lifted their price target 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, July 29th. Finally, Royal Bank Of Canada lifted their target price on Citizens Financial Group from $70.00 to $79.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.05.
Get Our Latest Research Report on CFG
Citizens Financial Group Company Profile
(
Free Report)
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.
See Also
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).
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