Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 39,773 Citizens Financial Group, Inc. $CFG

Key Points

• Munich Re established a new position in Citizens Financial Group by buying 39,773 shares in Q3, valued at about $2.11 million.
• Citizens recently beat Q4 EPS estimates ($1.13 vs. $1.11), reported revenue up 8.6% year-over-year, pays a $0.46 quarterly dividend (≈3.2% yield), and trades around $58 with a market cap near $24.7 billion and a P/E of ~15.
• Analysts are broadly positive—19 Buys vs. 2 Holds with an average price target of $69.73—and institutional investors own roughly 94.9% of the stock.

Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 39,773 shares of the bank's stock, valued at approximately $2,114,000.

Several other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its position in shares of Citizens Financial Group by 891.5% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the bank's stock valued at $31,000 after acquiring an additional 526 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in Citizens Financial Group by 3,970.0% in the second quarter. Capital A Wealth Management LLC now owns 814 shares of the bank's stock worth $36,000 after purchasing an additional 794 shares during the period. State of Wyoming acquired a new position in Citizens Financial Group in the second quarter worth $39,000. Kestra Investment Management LLC increased its stake in Citizens Financial Group by 2,703.0% during the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank's stock valued at $41,000 after purchasing an additional 892 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in Citizens Financial Group by 3,569.2% during the third quarter. SJS Investment Consulting Inc. now owns 954 shares of the bank's stock valued at $51,000 after purchasing an additional 928 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Citizens Financial Group Stock Down 2.5%

Citizens Financial Group stock opened at $58.07 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $68.79. The company has a 50-day simple moving average of $62.53 and a 200-day simple moving average of $56.38. The firm has a market capitalization of $24.68 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.47 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.02. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. Citizens Financial Group's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. As a group, equities analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were paid a $0.46 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group's dividend payout ratio (DPR) is presently 47.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Citizens Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $73.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, January 6th. Barclays set a $77.00 price objective on shares of Citizens Financial Group and gave the stock an "overweight" rating in a research note on Monday, January 5th. Argus raised their target price on shares of Citizens Financial Group from $60.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, January 23rd. Finally, Raymond James Financial downgraded Citizens Financial Group from a "strong-buy" rating to an "outperform" rating and lifted their target price for the company from $62.00 to $66.00 in a research note on Wednesday, January 7th. Nineteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.73.

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.

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.