United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Invests $15.52 Million in Citizens Financial Group, Inc. $CFG

Key Points

• United Super Pty Ltd bought a new stake in Citizens Financial Group, acquiring 265,671 shares valued at about $15.52 million in the fourth quarter.
• Citizens Financial Group reported better-than-expected Q1 earnings, with EPS of $1.13 versus the $1.10 consensus, and revenue of $2.17 billion, up 12% year over year.
• The bank continues to draw positive analyst attention, with 19 Buy ratings and a consensus Moderate Buy rating; the average price target is $70.88.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 265,671 shares of the bank's stock, valued at approximately $15,518,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund owned about 0.06% of Citizens Financial Group at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CFG. Channing Capital Management LLC acquired a new stake in Citizens Financial Group in the 3rd quarter valued at about $7,528,000. Envestnet Asset Management Inc. grew its stake in Citizens Financial Group by 25.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank's stock valued at $36,553,000 after acquiring an additional 140,641 shares during the last quarter. National Pension Service grew its stake in Citizens Financial Group by 33.5% in the 3rd quarter. National Pension Service now owns 135,208 shares of the bank's stock valued at $7,188,000 after acquiring an additional 33,923 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Citizens Financial Group by 5.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank's stock valued at $29,968,000 after acquiring an additional 25,180 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new stake in Citizens Financial Group in the 4th quarter valued at about $2,412,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $62.38 on Friday. The company has a market cap of $26.38 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.50 and a beta of 0.70. Citizens Financial Group, Inc. has a 12 month low of $39.40 and a 12 month high of $68.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. The company has a 50-day simple moving average of $62.28 and a 200-day simple moving average of $60.43.

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

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.9%. Citizens Financial Group's dividend payout ratio (DPR) is currently 43.50%.

Insider Activity at Citizens Financial Group

In related 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 value of $376,068.00. Following the sale, the insider directly owned 22,565 shares of the company's stock, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Lamonica sold 13,258 shares of the firm's stock in a transaction that occurred 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 directly owned 165,971 shares in the company, valued at $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Citizens Financial Group from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Evercore reissued an "outperform" rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Citizens Financial Group from $68.00 to $68.50 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Morgan Stanley decreased their price target on shares of Citizens Financial Group from $80.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Finally, DA Davidson lifted their price target on shares of Citizens Financial Group from $73.00 to $74.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Nineteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.88.

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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