Formuepleje A S Trims Stock Position in Citizens Financial Group, Inc. $CFG

Formuepleje A S reduced its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 79.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,029 shares of the bank’s stock after selling 91,116 shares during the period. Formuepleje A S’s holdings in Citizens Financial Group were worth $1,684,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in Citizens Financial Group during the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC acquired a new position in Citizens Financial Group in the first quarter valued at approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Citizens Financial Group in the fourth quarter valued at approximately $29,000. Elevation Wealth Partners LLC boosted its position in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after purchasing an additional 323 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in Citizens Financial Group in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling at Citizens Financial Group

In related news, CEO Bruce Van Saun sold 129,369 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. This represents a 10.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CFG has been the subject of several recent research reports. Argus set a $80.00 target price on shares of Citizens Financial Group in a report on Wednesday, July 29th. Evercore restated an “outperform” rating and set a $80.00 price target on shares of Citizens Financial Group in a research report on Monday, July 6th. Cantor Fitzgerald lifted their price objective on shares of Citizens Financial Group from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Royal Bank Of Canada upped their price objective on shares of Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $70.81 on Monday. The stock has a market capitalization of $29.82 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.64 and a beta of 0.66. The company’s fifty day moving average price is $71.48 and its 200 day moving average price is $65.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group’s payout ratio is currently 39.91%.

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.