Citizens Financial Group, Inc. $CFG Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 36.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,852 shares of the bank's stock after selling 42,654 shares during the period. Cibc World Market Inc.'s holdings in Citizens Financial Group were worth $4,314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CFG. Channing Capital Management LLC bought a new stake in shares of Citizens Financial Group in the third quarter worth $7,528,000. Envestnet Asset Management Inc. increased its stake in shares of Citizens Financial Group by 25.7% in the third quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank's stock worth $36,553,000 after buying an additional 140,641 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Citizens Financial Group by 5.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank's stock worth $29,968,000 after buying an additional 25,180 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Citizens Financial Group in the fourth quarter worth $2,412,000. Finally, Krilogy Financial LLC bought a new stake in shares of Citizens Financial Group in the third quarter worth $1,182,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Susan Lamonica sold 13,258 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the transaction, the insider owned 165,971 shares of the company's stock, valued at approximately $9,632,956.84. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michelle Moosally sold 6,050 shares of the business's 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 directly owned 22,565 shares of the company's stock, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.67% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CFG. Royal Bank Of Canada lifted their price target on shares of Citizens Financial Group from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. JPMorgan Chase & Co. lifted their price target on shares of Citizens Financial Group from $68.00 to $68.50 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. DA Davidson lifted their price target on shares of Citizens Financial Group from $73.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Morgan Stanley lowered their target price on shares of Citizens Financial Group from $80.00 to $73.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Finally, Robert W. Baird upgraded shares of Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 target price for the company in a research note on Monday, March 9th. Nineteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.88.

Citizens Financial Group Stock Up 0.2%

CFG stock opened at $64.09 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a 1-year low of $40.17 and a 1-year high of $68.79. The firm has a fifty day moving average price of $62.84 and a two-hundred day moving average price of $60.88. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.51 and a beta of 0.68.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts predict that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

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

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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