Nykredit A S Takes Position in Citizens Financial Group, Inc. $CFG

Key Points

• Nykredit A/S acquired 2.69 million shares of Citizens Financial Group during the second quarter, valued at approximately $188.4 million and representing about 0.64% of the bank.
• Institutional investors own 94.9% of Citizens Financial Group, while CEO Saun Van sold 129,369 shares for roughly $9.3 million. Analysts maintain a generally positive view, with 16 Buy ratings and four Holds and an average price target of $79.25.
• Citizens Financial Group reported quarterly EPS of $1.30, exceeding estimates by $0.05, while revenue rose 12.1% year over year to $2.28 billion. The bank also announced a quarterly dividend of $0.46 per share, equivalent to a 2.6% yield.

Nykredit A S acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,688,457 shares of the bank's stock, valued at approximately $188,380,000. Nykredit A S owned about 0.64% of Citizens Financial Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in shares of Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock worth $472,000 after acquiring an additional 274 shares during the last quarter. Empowered Funds LLC grew its position in Citizens Financial Group by 6.7% in the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock worth $362,000 after purchasing an additional 554 shares during the last quarter. Woodline Partners LP grew its position in Citizens Financial Group by 39.5% in the 1st 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 during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Citizens Financial Group by 93.4% during the 2nd 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 during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Citizens Financial Group by 5.2% during the 2nd 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 during the period. Institutional investors and hedge funds own 94.90% of the company's stock.

Insider Activity

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction 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. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.67% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial lifted their target price on Citizens Financial Group from $72.00 to $80.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. 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 report on Friday, July 17th. DA Davidson reissued a "neutral" rating on shares of Citizens Financial Group in a report on Friday, August 14th. 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 note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $79.25.

Citizens Financial Group Trading Up 2.3%

CFG stock opened at $69.74 on Thursday. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business's 50 day moving average is $71.46 and its 200-day moving average is $65.73. The firm has a market cap of $29.37 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.62 and a beta of 0.66.

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

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were paid 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 is currently 39.91%.

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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