Citizens Financial Group, Inc. $CFG Shares Purchased by Taikang Asset Management Hong Kong Co Ltd

Key Points

• Taikang Asset Management Hong Kong more than doubled its stake in Citizens Financial Group in the fourth quarter, increasing holdings by 108.4% to 104,741 shares valued at about $6.1 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 94.90% of the company’s stock. The article also notes an insider sale by Michelle Moosally of 6,050 shares at $62.16 each.
• Citizens Financial Group has drawn mostly positive analyst coverage, with 18 Buy ratings and a consensus “Moderate Buy” target of $70.88. The bank also beat quarterly earnings expectations and recently paid a $0.46 dividend, yielding about 2.7%.

Taikang Asset Management Hong Kong Co Ltd raised its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 108.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 104,741 shares of the bank's stock after purchasing an additional 54,482 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Citizens Financial Group were worth $6,118,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Citizens Financial Group in the 4th quarter valued at about $26,000. Activest Wealth Management raised its position in Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank's stock worth $30,000 after acquiring an additional 504 shares during the last quarter. State of Wyoming acquired a new position in Citizens Financial Group during the second quarter worth about $39,000. Fortitude Family Office LLC lifted its holdings in shares of Citizens Financial Group by 632.0% in the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock valued at $41,000 after purchasing an additional 613 shares in the last quarter. Finally, Kestra Investment Management LLC lifted its holdings in shares of Citizens Financial Group by 2,703.0% in the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank's stock valued at $41,000 after purchasing an additional 892 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Insider Transactions at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the business's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. 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 Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 target price on the stock in a research note on Monday, March 9th. Cantor Fitzgerald reissued an "overweight" rating on shares of Citizens Financial Group in a research report on Tuesday, June 9th. Evercore reissued an "outperform" rating and issued a $75.00 price target on shares of Citizens Financial Group in a report on Tuesday, April 21st. Finally, Morgan Stanley decreased their price objective on 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. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.88.

Citizens Financial Group Stock Up 0.9%

CFG stock opened at $67.26 on Wednesday. The company has a 50 day moving average price of $63.78 and a two-hundred day moving average price of $61.57. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $28.44 billion, a P/E ratio of 15.90, a PEG ratio of 0.53 and a beta of 0.68. Citizens Financial Group, Inc. has a one year low of $40.25 and a one year high of $68.79.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.7%. Citizens Financial Group's dividend payout ratio (DPR) is currently 43.50%.

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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