First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Man Group plc

Man Group plc decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 45.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,548 shares of the bank's stock after selling 1,275 shares during the period. Man Group plc's holdings in First Citizens BancShares were worth $3,271,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Sei Investments Co. grew its stake in First Citizens BancShares by 69.6% in the 4th quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock worth $6,404,000 after buying an additional 1,244 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after acquiring an additional 18,501 shares during the last quarter. Raymond James Financial Inc. purchased a new position in First Citizens BancShares in the fourth quarter worth $39,739,000. Check Capital Management Inc. CA increased its stake in First Citizens BancShares by 20.0% in the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock valued at $70,995,000 after acquiring an additional 5,605 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in First Citizens BancShares by 4.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock valued at $7,811,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

Insider Transactions at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 17 shares of the firm's stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares of the company's stock, valued at $2,146,369.33. The trade was a 1.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Frank B. Holding, Jr. purchased 350 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the transaction, the chief executive officer now owns 2,758 shares of the company's stock, valued at $4,440,380. This trade represents a 14.53% increase in their position. The disclosure for this purchase can be found here. Insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA traded down $18.77 during trading on Friday, hitting $1,822.27. The company had a trading volume of 45,012 shares, compared to its average volume of 89,010. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50 day simple moving average of $1,792.52 and a 200 day simple moving average of $2,004.68. The firm has a market capitalization of $24.22 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. As a group, analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's payout ratio is currently 4.47%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a report on Tuesday, March 11th. Jefferies Financial Group assumed coverage on First Citizens BancShares in a research note on Wednesday. They set a "hold" rating and a $2,050.00 price objective on the stock. The Goldman Sachs Group lowered their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Truist Financial raised their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods upped their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,340.33.

About First Citizens BancShares

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.