Prudential PLC Trims Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Prudential PLC decreased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 41.1% in the second quarter, Holdings Channel reports. The firm owned 11,216 shares of the bank’s stock after selling 7,814 shares during the period. Prudential PLC’s holdings in Citizens Financial Group were worth $404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CFG. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares in the last quarter. Private Ocean LLC lifted its stake in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after acquiring an additional 838 shares during the period. Quarry LP grew its holdings in Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after acquiring an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Citizens Financial Group during the 2nd quarter valued at about $48,000. Institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CFG shares. UBS Group upped their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley upped their target price on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Jefferies Financial Group lifted their price target on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Raymond James started coverage on Citizens Financial Group in a research note on Thursday, July 11th. They set a “market perform” rating for the company. Finally, Stephens lifted their target price on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Citizens Financial Group has an average rating of “Hold” and a consensus target price of $42.20.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Citizens Financial Group Trading Up 1.0 %

NYSE:CFG opened at $40.09 on Friday. The company has a market capitalization of $17.97 billion, a P/E ratio of 14.53, a PEG ratio of 1.42 and a beta of 1.08. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $43.96. The firm has a fifty day simple moving average of $40.71 and a 200-day simple moving average of $36.77.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Citizens Financial Group Company Profile

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.