Diversified Trust Co Grows Stock Position in Citizens Financial Group, Inc. $CFG

Key Points

• Diversified Trust Co increased its stake in Citizens Financial Group by 181% in the first quarter, buying an additional 20,158 shares and bringing its total to 31,293 shares worth about $1.88 million.
• Citizens Financial Group reported better-than-expected first-quarter results, with EPS of $1.13 versus the $1.10 consensus and revenue of $2.17 billion, up 12% year over year.
• The bank also paid a quarterly dividend of $0.46 per share, implying an annualized yield of 2.7%, while analysts currently rate the stock a Moderate Buy with an average target price of $70.88.

Diversified Trust Co raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 181.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,293 shares of the bank's stock after purchasing an additional 20,158 shares during the quarter. Diversified Trust Co's holdings in Citizens Financial Group were worth $1,877,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CFG. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Citizens Financial Group in the fourth quarter valued at approximately $29,000. Activest Wealth Management lifted its stake 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 purchasing an additional 504 shares in the last quarter. DV Equities LLC acquired a new position in Citizens Financial Group during the fourth quarter worth $35,000. Finally, Fortitude Family Office LLC boosted its position in shares of Citizens Financial Group by 632.0% during the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock worth $41,000 after buying an additional 613 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the company'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 transaction of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.67% of the company's stock.

Citizens Financial Group Stock Up 1.3%

Shares of NYSE CFG opened at $67.97 on Tuesday. The stock has a market cap of $28.74 billion, a P/E ratio of 16.07, a PEG ratio of 0.53 and a beta of 0.68. The business's fifty day simple moving average is $64.13 and its 200-day simple moving average is $61.93. Citizens Financial Group, Inc. has a 12-month low of $41.38 and a 12-month high of $68.79. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $1.13 EPS 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 firm had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the firm posted $0.77 EPS. Citizens Financial Group's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.7%. Citizens Financial Group's payout ratio is currently 43.50%.

Analysts Set New Price Targets

Several research firms recently issued reports on CFG. Stephens started coverage on Citizens Financial Group in a report on Monday, June 15th. They issued an "equal weight" rating on the stock. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, April 17th. JPMorgan Chase & Co. lifted their target price on Citizens Financial Group from $68.00 to $68.50 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Royal Bank Of Canada boosted 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. Finally, Morgan Stanley reduced their price target on shares of Citizens Financial Group from $80.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Eighteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $70.88.

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.