Citizens Financial Group, Inc. (NYSE:CFG) Stake Raised by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 104.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,359 shares of the bank’s stock after buying an additional 5,815 shares during the period. Intech Investment Management LLC’s holdings in Citizens Financial Group were worth $409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cowa LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $276,000. XTX Topco Ltd lifted its position in Citizens Financial Group by 146.2% in the second quarter. XTX Topco Ltd now owns 52,917 shares of the bank’s stock worth $1,907,000 after purchasing an additional 31,423 shares during the period. Seven Eight Capital LP acquired a new stake in Citizens Financial Group in the second quarter worth approximately $1,685,000. Hsbc Holdings PLC boosted its stake in Citizens Financial Group by 1.7% during the 2nd quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock valued at $99,448,000 after purchasing an additional 45,038 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new position in shares of Citizens Financial Group during the 2nd quarter valued at $1,425,000. 94.90% of the stock is owned by institutional investors.

Insider Activity at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Stock Up 0.7 %

Citizens Financial Group stock opened at $40.80 on Friday. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $43.96. The firm’s fifty day simple moving average is $41.18 and its 200-day simple moving average is $37.30. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $18.56 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.43 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.12%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada raised their target price on Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Evercore ISI lifted their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Stephens increased their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Morgan Stanley lifted their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group upped 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. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.20.

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.