Citizens Financial Group, Inc. $CFG Shares Sold by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in Citizens Financial Group by 5.0%, selling 8,500 shares and now holding 161,079 shares valued at $7.2 million.
• Several hedge funds made significant changes, with AustralianSuper Pty Ltd acquiring a $108.9 million stake, and Assetmark Inc. increasing its position by 11,167.0%.
• Analysts have raised price targets for Citizens Financial Group, with a consensus target price of $52.35 and a rating of "Moderate Buy."

Mn Services Vermogensbeheer B.V. cut its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,079 shares of the bank's stock after selling 8,500 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Citizens Financial Group were worth $7,208,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new position in Citizens Financial Group during the first quarter worth $108,864,000. Assetmark Inc. boosted its position in shares of Citizens Financial Group by 11,167.0% in the first quarter. Assetmark Inc. now owns 1,347,537 shares of the bank's stock worth $55,209,000 after buying an additional 1,335,577 shares during the period. AQR Capital Management LLC boosted its holdings in Citizens Financial Group by 19.1% in the first quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank's stock worth $294,007,000 after purchasing an additional 1,180,390 shares in the last quarter. Swedbank AB boosted its holdings in Citizens Financial Group by 291.5% in the 2nd quarter. Swedbank AB now owns 1,352,458 shares of the bank's stock valued at $60,522,000 after purchasing an additional 1,006,999 shares during the period. Finally, Junto Capital Management LP bought a new stake in Citizens Financial Group in the first quarter valued at $38,915,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CFG shares. UBS Group increased their price objective on Citizens Financial Group from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a report on Wednesday, July 2nd. Citigroup raised their target price on Citizens Financial Group from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Friday. Cantor Fitzgerald began coverage on Citizens Financial Group in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $61.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $52.35.

Citizens Financial Group Trading Down 0.1%

Citizens Financial Group stock opened at $53.56 on Friday. The firm has a market cap of $23.10 billion, a PE ratio of 16.28, a P/E/G ratio of 0.59 and a beta of 0.80. The stock's 50 day simple moving average is $49.76 and its two-hundred day simple moving average is $43.62. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $53.78.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The business had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.The company's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. Analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group declared that its Board of Directors has initiated a share repurchase program on Friday, June 13th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the bank to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, July 31st. Citizens Financial Group's dividend payout ratio is 51.06%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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