Strs Ohio Sells 100,915 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• Strs Ohio trimmed its Citizens Financial Group stake by 22.5% in the first quarter, selling 100,915 shares and leaving it with 347,367 shares valued at about $20.8 million.
• Citizens Financial Group reported solid quarterly results, with EPS of $1.13 beating estimates and revenue rising 12% year over year to $2.17 billion.
• Wall Street remains constructive on CFG, with 18 analysts rating it a Buy, two Hold ratings, and a consensus target price of $72.38; the company also pays a quarterly dividend of $0.46 per share.

Strs Ohio lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 22.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 347,367 shares of the bank's stock after selling 100,915 shares during the period. Strs Ohio owned approximately 0.08% of Citizens Financial Group worth $20,832,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Citizens Financial Group during the fourth quarter valued at about $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $29,000. Activest Wealth Management grew its holdings in shares of Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock worth $30,000 after purchasing an additional 504 shares in the last quarter. DV Equities LLC bought a new stake in shares of Citizens Financial Group during the fourth quarter valued at approximately $35,000. Finally, State of Wyoming bought a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $39,000. Institutional investors own 94.90% of the company's stock.

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.67% of the stock is currently owned by company insiders.

Citizens Financial Group Stock Down 0.0%

Shares of NYSE:CFG opened at $70.97 on Friday. Citizens Financial Group, Inc. has a 12 month low of $45.90 and a 12 month high of $72.46. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The company's 50-day moving average price is $65.12 and its two-hundred day moving average price is $62.76. The firm has a market cap of $30.01 billion, a P/E ratio of 16.78, a P/E/G ratio of 0.56 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business posted $0.77 earnings per share. Citizens Financial Group's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, research analysts forecast that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group's payout ratio is currently 43.50%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CFG. Royal Bank Of Canada raised their target price on Citizens Financial Group from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of Citizens Financial Group in a report on Tuesday, June 9th. Robert W. Baird raised shares of Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 price objective for the company in a report on Monday, March 9th. DA Davidson upped their target price on shares of Citizens Financial Group from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Citizens Financial Group has a consensus rating of "Moderate Buy" and a consensus target price of $72.38.

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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