Munich Reinsurance Co Stock Corp in Munich Acquires 24,236 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• Munich Re boosted its stake in Citizens Financial Group by 60.9%, buying 24,236 shares in Q4 to own 64,009 shares valued at about $3.77 million.
• Insider Susan Lamonica sold 13,258 shares on March 11 for roughly $769,494, reducing her ownership by 7.4%; insiders now hold 0.67% of the stock while institutional investors own 94.9%.
• Citizens announced a quarterly dividend of $0.46 (annualized $1.84, yield 2.9%; ex-dividend April 30, paid May 14) and reported Q1 earnings of $1.13 per share, beating estimates as revenue rose 12% year-over-year.

Munich Reinsurance Co Stock Corp in Munich grew its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 60.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,009 shares of the bank's stock after buying an additional 24,236 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in Citizens Financial Group were worth $3,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CFG. NewEdge Advisors LLC grew its stake in Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock worth $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Citizens Financial Group by 6.7% during the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock worth $362,000 after purchasing an additional 554 shares in the last quarter. Woodline Partners LP lifted its position in shares of Citizens Financial Group by 39.5% during the first quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock worth $1,513,000 after purchasing an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank's stock worth $439,000 after purchasing an additional 4,739 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Citizens Financial Group by 5.2% during the second quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank's stock worth $2,934,000 after purchasing an additional 3,225 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Insider Activity at Citizens Financial Group

In related news, insider Susan Lamonica sold 13,258 shares of the firm's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the sale, the insider directly owned 165,971 shares in the company, valued at $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.67% of the stock is currently owned by insiders.

Citizens Financial Group Trading Down 2.0%

CFG opened at $63.85 on Friday. The firm's fifty day moving average is $61.26 and its two-hundred day moving average is $58.46. 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 $27.13 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 0.52 and a beta of 0.70. Citizens Financial Group, Inc. has a twelve month low of $35.90 and a twelve month high of $68.79.

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, topping the consensus estimate of $1.10 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 5.18 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be issued a $0.46 dividend. The ex-dividend date is Thursday, April 30th. This represents a $1.84 annualized dividend and a yield of 2.9%. Citizens Financial Group's dividend payout ratio (DPR) is 43.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CFG. Jefferies Financial Group reiterated a "buy" rating and set a $80.00 target price on shares of Citizens Financial Group in a research report on Wednesday, January 21st. The Goldman Sachs Group reiterated a "buy" rating and set a $73.00 target price on shares of Citizens Financial Group in a research report on Tuesday, January 6th. Morgan Stanley reduced their target price on shares of Citizens Financial Group from $80.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Argus upped their target price on shares of Citizens Financial Group from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, January 23rd. Finally, Raymond James Financial lowered shares of Citizens Financial Group from a "strong-buy" rating to an "outperform" rating and increased their price objective for the company from $62.00 to $66.00 in a report on Wednesday, January 7th. Nineteen 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.86.

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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