Handelsbanken Fonder AB Has $1.07 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Handelsbanken Fonder AB cut its Citizens Financial Group stake by 73.3% in the second quarter, selling 41,863 shares and retaining 15,212 shares valued at approximately $1.07 million. Institutional investors collectively own 94.9% of CFG.
• Analysts remain broadly bullish, with 16 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $79.25. CFG recently traded at $70.75.
• Citizens Financial Group exceeded quarterly expectations, reporting $1.30 in EPS and $2.28 billion in revenue, with revenue up 12.1% year over year. The bank also pays a quarterly dividend of $0.46 per share, yielding about 2.6% annually.

Handelsbanken Fonder AB trimmed its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 73.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,212 shares of the bank's stock after selling 41,863 shares during the period. Handelsbanken Fonder AB's holdings in Citizens Financial Group were worth $1,066,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CFG. Elevation Wealth Partners LLC grew its holdings in shares of Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock worth $30,000 after purchasing an additional 323 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Citizens Financial Group in the fourth quarter valued at $26,000. Cedar Mountain Advisors LLC bought a new position in Citizens Financial Group in the first quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Citizens Financial Group in the fourth quarter worth $29,000. Finally, Activest Wealth Management boosted 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 buying an additional 504 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

CFG has been the topic of several recent research reports. UBS Group lifted their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Evercore restated an "outperform" rating and set a $80.00 price target on shares of Citizens Financial Group in a research note on Monday, July 6th. Royal Bank Of Canada lifted their price objective on Citizens Financial Group from $70.00 to $79.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Finally, Argus set a $80.00 price objective on Citizens Financial Group in a research note on Wednesday, July 29th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Citizens Financial Group presently has an average rating of "Moderate Buy" and an average price target of $79.25.

Citizens Financial Group Stock Down 3.7%

Shares of NYSE:CFG opened at $70.75 on Thursday. The company's fifty day moving average is $71.04 and its 200-day moving average is $65.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33. The company has a market capitalization of $29.80 billion, a PE ratio of 15.35, a P/E/G ratio of 0.56 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter last year, the company posted $0.92 EPS. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts predict that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. Citizens Financial Group's dividend payout ratio (DPR) is presently 39.91%.

Citizens Financial Group 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source