Pictet Asset Management Holding SA Has $15.92 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Pictet Asset Management trimmed its stake in Citizens Financial Group by 7.5%, selling 22,121 shares and leaving it with 272,616 shares worth approximately $15.92 million (about 0.06% of the company).
• Citizens beat quarterly expectations with $1.13 EPS (vs. $1.10) and $2.17 billion revenue (up 12% year-over-year), announced a $0.46 quarterly dividend (2.9% yield), and holds a consensus analyst rating of Moderate Buy with an average price target of $70.88.

Pictet Asset Management Holding SA reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272,616 shares of the bank's stock after selling 22,121 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Citizens Financial Group worth $15,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CFG. AA Financial Advisors LLC lifted its holdings in Citizens Financial Group by 3.9% in the fourth quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank's stock valued at $272,000 after buying an additional 174 shares during the period. Inscription Capital LLC boosted its holdings in Citizens Financial Group by 1.6% in the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank's stock worth $637,000 after acquiring an additional 175 shares in the last quarter. Grove Bank & Trust grew its position in Citizens Financial Group by 19.8% in the 4th quarter. Grove Bank & Trust now owns 1,107 shares of the bank's stock valued at $65,000 after purchasing an additional 183 shares during the period. CRA Financial Services LLC increased its position in shares of Citizens Financial Group by 4.6% during the fourth quarter. CRA Financial Services LLC now owns 4,477 shares of the bank's stock worth $262,000 after acquiring an additional 195 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Citizens Financial Group by 3.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 6,784 shares of the bank's stock valued at $361,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Insider Transactions at Citizens Financial Group

In related news, insider Susan Lamonica sold 13,258 shares of Citizens Financial Group stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares of the company's stock, valued at approximately $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.67% of the company's stock.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $64.45 on Friday. The stock has a market capitalization of $27.39 billion, a P/E ratio of 15.24, a PEG ratio of 0.52 and a beta of 0.70. The firm's 50 day moving average is $61.26 and its 200 day moving average is $58.83. Citizens Financial Group, Inc. has a 12 month low of $37.88 and a 12 month high of $68.79. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 5.19 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared 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. This represents a $1.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, April 30th. Citizens Financial Group's dividend payout ratio (DPR) is presently 43.50%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Citigroup boosted their target price on Citizens Financial Group from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, March 3rd. Evercore reiterated an "outperform" rating and set a $75.00 target price on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Finally, New Street Research set a $73.00 price target on shares of Citizens Financial Group in a research report on Thursday, January 22nd. Nineteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.88.

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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