Eurizon Capital SGR S.p.A. Invests $17.49 Million in Citizens Financial Group, Inc. $CFG

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Citizens Financial Group during the fourth quarter, buying 299,377 shares worth about $17.49 million.
• Insider activity was mixed but skewed toward selling, with executives Michelle Moosally and Susan Lamonica both trimming their stakes in recent transactions.
• Wall Street sentiment remains positive: analysts have a Moderate Buy consensus on CFG, with an average price target of $70.88, while the company also posted quarterly earnings and revenue that slightly beat expectations.

Eurizon Capital SGR S.p.A. acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 299,377 shares of the bank's stock, valued at approximately $17,489,000. Eurizon Capital SGR S.p.A. owned approximately 0.07% of Citizens Financial Group at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CFG. Activest Wealth Management grew its holdings in shares of Citizens Financial Group by 5,600.0% during the 4th 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. State of Wyoming acquired a new stake in Citizens Financial Group in the 2nd quarter valued at $39,000. Fortitude Family Office LLC boosted its stake in Citizens Financial Group by 632.0% in the 4th quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock valued at $41,000 after buying an additional 613 shares in the last quarter. Kestra Investment Management LLC boosted its stake in Citizens Financial Group by 2,703.0% in the 2nd quarter. Kestra Investment Management LLC now owns 925 shares of the bank's stock valued at $41,000 after buying an additional 892 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in Citizens Financial Group in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Insiders Place Their Bets

In other news, insider Michelle Moosally sold 6,050 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Susan Lamonica sold 13,258 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares of the company's stock, valued at $9,632,956.84. This represents a 7.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CFG. Royal Bank Of Canada boosted their price target on Citizens Financial Group from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Truist Financial boosted their price target on Citizens Financial Group from $63.00 to $69.00 and gave the company a "hold" rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods boosted their price target on Citizens Financial Group from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Evercore reaffirmed an "outperform" rating and issued a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Finally, Robert W. Baird raised Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 price target on the stock in a research note on Monday, March 9th. Nineteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and an average price target of $70.88.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $62.17 on Monday. 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 firm has a market cap of $26.29 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.49 and a beta of 0.68. The business's fifty day moving average is $62.39 and its two-hundred day moving average is $60.50. Citizens Financial Group, Inc. has a 52 week low of $39.40 and a 52 week high of $68.79.

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, topping analysts' consensus estimates of $1.10 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. Equities research analysts forecast that Citizens Financial Group, Inc. will post 5.2 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. The ex-dividend date was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.0%. Citizens Financial Group's payout ratio is presently 43.50%.

Citizens Financial Group Company 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.

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.