MV Capital Management Inc. Trims Stake in Citizens Financial Group, Inc. (NYSE:CFG)

MV Capital Management Inc. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 58.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,282 shares of the bank's stock after selling 38,461 shares during the period. MV Capital Management Inc.'s holdings in Citizens Financial Group were worth $904,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Resurgent Financial Advisors LLC acquired a new position in Citizens Financial Group in the fourth quarter valued at about $28,000. Clear Street Markets LLC grew its stake in Citizens Financial Group by 93.6% in the first quarter. Clear Street Markets LLC now owns 964 shares of the bank's stock valued at $29,000 after acquiring an additional 466 shares during the period. Lindbrook Capital LLC grew its stake in Citizens Financial Group by 100.8% in the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank's stock valued at $26,000 after acquiring an additional 496 shares during the period. ICA Group Wealth Management LLC acquired a new position in Citizens Financial Group in the fourth quarter valued at about $42,000. Finally, CVA Family Office LLC bought a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $40,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 4,508 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the sale, the insider now owns 43,885 shares of the company's stock, valued at $1,471,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group boosted their price target on Citizens Financial Group from $37.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, January 18th. Morgan Stanley boosted their price target on Citizens Financial Group from $31.00 to $39.00 and gave the company an "equal weight" rating in a report on Wednesday, February 7th. Royal Bank of Canada boosted their price target on Citizens Financial Group from $33.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, January 18th. The Goldman Sachs Group boosted their price target on Citizens Financial Group from $31.00 to $35.00 and gave the company a "buy" rating in a report on Monday, December 18th. Finally, Citigroup upgraded Citizens Financial Group from a "neutral" rating to a "buy" rating and set a $36.00 price target on the stock in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $35.88.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock traded down $0.43 on Friday, hitting $33.14. The stock had a trading volume of 3,453,943 shares, compared to its average volume of 5,607,798. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $36.38. The business's 50 day moving average is $33.17 and its two-hundred day moving average is $30.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 10.66 and a beta of 1.38.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, January 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.26). The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2 billion. Citizens Financial Group had a net margin of 13.19% and a return on equity of 7.40%. Citizens Financial Group's revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. Analysts forecast that Citizens Financial Group, Inc. will post 3.23 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date was Tuesday, January 30th. Citizens Financial Group's dividend payout ratio is currently 54.02%.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.