Quantinno Capital Management LP Has $78.64 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Quantinno Capital Management increased its Citizens Financial Group stake by 28.7% in the first quarter, acquiring 292,591 additional shares for a total holding valued at approximately $78.64 million. Institutional investors collectively own 94.9% of the company.
• Analysts remain broadly bullish, with 17 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $78.55. Recent quarterly earnings also exceeded expectations, with EPS of $1.30 and revenue of $2.28 billion.
• Citizens Financial Group declared a quarterly dividend of $0.46 per share, equivalent to $1.84 annually and a 2.5% yield. Meanwhile, two insiders—including the CEO—recently sold shares.

Quantinno Capital Management LP boosted its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 28.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,311,269 shares of the bank's stock after purchasing an additional 292,591 shares during the period. Quantinno Capital Management LP owned about 0.31% of Citizens Financial Group worth $78,637,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Citizens Financial Group during the fourth quarter worth $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Citizens Financial Group during the first quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Citizens Financial Group in the 4th quarter valued at $29,000. Activest Wealth Management lifted its stake in shares of Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock valued at $30,000 after acquiring an additional 504 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in shares of Citizens Financial Group during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald boosted their price objective on Citizens Financial Group from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Robert W. Baird increased their target price on Citizens Financial Group from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. Royal Bank Of Canada lifted their price target on Citizens Financial Group from $70.00 to $79.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. Jefferies Financial Group boosted their price target on Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, Truist Financial upped their price objective 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 investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Citizens Financial Group currently has an average rating of "Moderate Buy" and a consensus price target of $78.55.

Insider Activity at Citizens Financial Group

In other news, 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 of the company's stock, valued at $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Saun Bruce Van sold 129,369 shares of the firm's stock in a transaction that occurred 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 sale, 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 position. The SEC filing for this sale provides additional information. 0.67% of the stock is currently owned by insiders.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $72.91 on Wednesday. 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 has a 50-day moving average price of $67.91 and a two-hundred day moving average price of $64.22. Citizens Financial Group, Inc. has a 1-year low of $45.90 and a 1-year high of $74.70. The company has a market cap of $30.83 billion, a P/E ratio of 15.82, a PEG ratio of 0.54 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Thursday, July 30th. Citizens Financial Group's payout ratio is presently 39.91%.

Citizens Financial Group 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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