OMERS ADMINISTRATION Corp Has $2.25 Million Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• OMERS Administration Corp increased its Citizens Financial Group stake by 126.9% in the first quarter, holding 37,578 shares valued at approximately $2.25 million. Institutional investors collectively own 94.9% of CFG shares.
• Analysts maintain a favorable outlook, with 17 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $78.55.
• Citizens Financial Group exceeded quarterly expectations with $1.30 in EPS and $2.28 billion in revenue, while announcing a quarterly dividend of $0.46 per share, equivalent to a 2.5% yield.

OMERS ADMINISTRATION Corp lifted its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 126.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,578 shares of the bank's stock after buying an additional 21,014 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Citizens Financial Group were worth $2,254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CFG. Geode Capital Management LLC raised its stake in Citizens Financial Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank's stock valued at $661,052,000 after acquiring an additional 32,264 shares during the period. Morgan Stanley increased its position in Citizens Financial Group by 2.7% during the 4th quarter. Morgan Stanley now owns 11,217,975 shares of the bank's stock worth $655,242,000 after buying an additional 298,779 shares during the period. Capital International Investors lifted its holdings in shares of Citizens Financial Group by 32.3% during the fourth quarter. Capital International Investors now owns 8,000,750 shares of the bank's stock worth $467,389,000 after buying an additional 1,953,372 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Citizens Financial Group by 56.9% during the fourth quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank's stock worth $451,075,000 after buying an additional 2,799,050 shares in the last quarter. Finally, Ninety One UK Ltd boosted its position in shares of Citizens Financial Group by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 6,574,714 shares of the bank's stock valued at $384,029,000 after acquiring an additional 763,098 shares during the period. 94.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CFG shares. Cantor Fitzgerald upped their price target on shares of Citizens Financial Group from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Jefferies Financial Group boosted their price objective on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Barclays increased their target price on shares of Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Robert W. Baird lifted their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. Finally, Truist Financial boosted their price target on Citizens Financial Group from $72.00 to $80.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.55.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $72.91 on Wednesday. The stock's 50-day simple moving average is $67.91 and its 200 day simple moving average is $64.22. The firm has a market capitalization of $30.83 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.54 and a beta of 0.67. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a twelve month low of $45.90 and a twelve month high of $74.70.

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

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, July 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.5%. Citizens Financial Group's payout ratio is 39.91%.

Insider Buying and Selling

In related news, CEO Saun Bruce Van sold 129,369 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were 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 owned 1,140,763 shares of the company's stock, valued at $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Moosally sold 6,050 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares in the company, valued at $1,402,640.40. This represents a 21.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.67% of the stock is owned by corporate insiders.

About Citizens Financial Group

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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