Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Position in Citizens Financial Group, Inc. $CFG

Key Points

• Fjarde AP Fonden increased its stake in Citizens Financial Group by 86.6% in the first quarter, buying an additional 59,800 shares to bring its total holdings to 128,884 shares valued at about $7.73 million.
• Several other institutional investors also adjusted positions, and 94.9% of CFG stock is owned by hedge funds and other institutions, highlighting strong institutional interest in the bank.
• Analysts remain broadly bullish on Citizens Financial Group, with 18 Buy ratings and 2 Hold ratings and a consensus price target of $72.38; the stock recently traded at $70.97 and the company also reported quarterly earnings and revenue slightly ahead of estimates.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 86.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,884 shares of the bank's stock after acquiring an additional 59,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Citizens Financial Group were worth $7,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Citizens Financial Group during the fourth quarter valued at approximately $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth $29,000. Activest Wealth Management increased its stake in shares of Citizens Financial Group by 5,600.0% in 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 purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth $35,000. Finally, State of Wyoming bought a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $39,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 22,565 shares in the company, valued at $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CFG. Evercore restated an "outperform" rating and set a $75.00 target price on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Truist Financial increased their price target on Citizens Financial Group from $69.00 to $72.00 and gave the stock a "hold" rating in a research note on Wednesday, June 24th. Stephens started coverage on Citizens Financial Group in a report on Monday, June 15th. They set an "equal weight" rating on the stock. JPMorgan Chase & Co. boosted their price objective 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. Finally, Morgan Stanley upped their price objective on Citizens Financial Group from $73.00 to $79.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Eighteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.38.

Citizens Financial Group Price Performance

CFG stock opened at $70.97 on Monday. Citizens Financial Group, Inc. has a one year low of $45.90 and a one year high of $72.46. The company's fifty day moving average price is $65.12 and its 200-day moving average price is $62.79. 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 company has a market capitalization of $30.01 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted 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. The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. Citizens Financial Group's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company posted $0.77 earnings per share. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group's dividend payout ratio is 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.

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