Citizens Financial Group, Inc. $CFG Holdings Decreased by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. reduced its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 63.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 465,482 shares of the bank's stock after selling 810,594 shares during the period. Alyeska Investment Group L.P. owned about 0.11% of Citizens Financial Group worth $32,616,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its position in Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock valued at $30,000 after purchasing an additional 323 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Citizens Financial Group during the 4th quarter worth $26,000. Cedar Mountain Advisors LLC acquired a new stake in Citizens Financial Group in the first quarter worth $27,000. Keating Financial Advisory Services Inc. acquired a new stake in Citizens Financial Group in the second quarter worth $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Citizens Financial Group in the fourth quarter valued at $29,000. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CFG. Cantor Fitzgerald raised their price target on shares of Citizens Financial Group from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Citigroup boosted their price objective 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. Royal Bank Of Canada increased their price objective on Citizens Financial Group from $70.00 to $79.00 and gave the stock an "outperform" rating in a report on Friday, July 17th. Evercore restated an "outperform" rating and issued a $80.00 target price on shares of Citizens Financial Group in a research report on Monday, July 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.25.

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 that occurred 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 owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is currently owned by insiders.

Citizens Financial Group Price Performance

NYSE:CFG opened at $69.76 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The business's 50-day moving average price is $71.46 and its 200 day moving average price is $65.67. Citizens Financial Group, Inc. has a 52-week low of $47.96 and a 52-week high of $75.33. The firm has a market cap of $29.38 billion, a P/E ratio of 15.13, a PEG ratio of 0.53 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 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $0.92 EPS. The business's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was 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 is currently 39.91%.

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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