Citizens Financial Group Inc. RI Sells 23,948 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• Citizens Financial Group Inc. RI cut its stake in Citizens Financial Group by 7.1% in the first quarter, selling 23,948 shares and leaving it with 315,426 shares valued at about $18.9 million.
• Insider Michelle Moosally sold 6,050 shares at an average price of $62.16, reducing her ownership by 21.14%. Institutional investors still own 94.9% of the stock.
• Citizens Financial Group reported strong quarterly results, with EPS of $1.13 beating estimates and revenue rising 12% year over year. The company also pays a quarterly dividend of $0.46 per share, equal to a 2.6% yield.

Citizens Financial Group Inc. RI decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 315,426 shares of the bank's stock after selling 23,948 shares during the quarter. Citizens Financial Group Inc. RI owned 0.07% of Citizens Financial Group worth $18,916,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CFG. Geode Capital Management LLC lifted its position in Citizens Financial Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank's stock valued at $661,052,000 after purchasing an additional 32,264 shares during the period. Morgan Stanley grew its position in Citizens Financial Group by 2.7% in the 4th quarter. Morgan Stanley now owns 11,217,975 shares of the bank's stock worth $655,242,000 after purchasing an additional 298,779 shares during the period. Capital International Investors raised its stake in Citizens Financial Group by 32.3% during the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank's stock valued at $467,389,000 after buying an additional 1,953,372 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Citizens Financial Group by 56.9% during the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank's stock valued at $451,075,000 after buying an additional 2,799,050 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Citizens Financial Group by 7.5% in the 4th quarter. Nordea Investment Management AB now owns 7,220,986 shares of the bank's stock worth $423,222,000 after buying an additional 505,614 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the firm's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company's stock.

Citizens Financial Group Price Performance

Shares of CFG stock traded up $0.50 on Friday, hitting $70.36. 3,690,539 shares of the stock traded hands, compared to its average volume of 4,578,129. 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 52 week low of $45.90 and a 52 week high of $72.94. The firm has a 50 day simple moving average of $65.71 and a two-hundred day simple moving average of $63.17. The firm has a market cap of $29.75 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.58 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts predict that Citizens Financial Group, Inc. will post 5.22 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group's dividend payout ratio is currently 43.50%.

Analysts Set New Price Targets

A number of analysts recently commented on CFG shares. DA Davidson upped their price objective on Citizens Financial Group from $73.00 to $74.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Evercore reaffirmed an "outperform" rating and set a $80.00 price target on shares of Citizens Financial Group in a research report on Monday, July 6th. Morgan Stanley raised their price objective on shares of Citizens Financial Group from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Stephens started coverage on shares of Citizens Financial Group in a research report on Monday, June 15th. They set an "equal weight" rating for the company. Finally, Truist Financial increased their price target on shares of Citizens Financial Group from $69.00 to $72.00 and gave the stock a "hold" rating in a research report on Wednesday, June 24th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.35.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.