iSAM Funds UK Ltd Takes Position in Citizens Financial Group, Inc. $CFG

Key Points

• iSAM Funds UK Ltd acquired 41,800 shares of Citizens Financial Group in the second quarter, valued at approximately $2.9 million and representing 2.1% of its portfolio. Institutional investors collectively own 94.9% of CFG.
• Citizens Financial Group reported quarterly EPS of $1.30, beating estimates by $0.05, while revenue rose 12.1% year over year to $2.28 billion. The bank also pays a quarterly dividend of $0.46 per share, yielding about 2.6%.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $79.25, compared with a recent share price of $69.74.

iSAM Funds UK Ltd acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 41,800 shares of the bank's stock, valued at approximately $2,929,000. Citizens Financial Group comprises about 2.1% of iSAM Funds UK Ltd's investment portfolio, making the stock its 2nd biggest position.

Several other large investors also recently bought and sold shares of CFG. BlackRock Inc. purchased a new position in shares of Citizens Financial Group in the second quarter worth $3,415,046,000. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 32,264 shares during the last quarter. Morgan Stanley increased its position in shares of Citizens Financial Group by 2.7% in the 4th quarter. Morgan Stanley now owns 11,217,975 shares of the bank's stock valued at $655,242,000 after acquiring an additional 298,779 shares during the period. Capital International Investors increased its position in shares of Citizens Financial Group by 32.3% in the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank's stock valued at $467,389,000 after acquiring an additional 1,953,372 shares during the period. Finally, AQR Capital Management LLC raised its stake in Citizens Financial Group by 56.9% in the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank's stock worth $451,075,000 after acquiring an additional 2,799,050 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Price Performance

NYSE:CFG opened at $69.74 on Thursday. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $29.37 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.62 and a beta of 0.66. The firm's fifty day moving average is $71.46 and its two-hundred day moving average is $65.73.

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

Citizens Financial Group Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on CFG shares. Cantor Fitzgerald boosted their price target on Citizens Financial Group from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Royal Bank Of Canada raised their price objective on Citizens Financial Group from $70.00 to $79.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Evercore reaffirmed an "outperform" rating and set a $80.00 target price on shares of Citizens Financial Group in a report on Monday, July 6th. Jefferies Financial Group upped their target price on Citizens Financial Group from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Finally, Argus set a $80.00 price target on shares of Citizens Financial Group in a report 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 company. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of "Moderate Buy" and an average price target of $79.25.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the business's stock in a transaction that occurred on Friday, July 24th. The stock was 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 directly owned 1,140,763 shares of the company's stock, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.67% of the company's stock.

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.

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