Hartford Investment Management Co. trimmed its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,969 shares of the bank’s stock after selling 3,201 shares during the period. Hartford Investment Management Co.’s holdings in Citizens Financial Group were worth $1,664,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its holdings in Citizens Financial Group by 29.3% in the 4th quarter. CWM LLC now owns 1,536 shares of the bank’s stock worth $46,000 after acquiring an additional 348 shares during the last quarter. Huntington National Bank increased its holdings in Citizens Financial Group by 75.3% in the 4th quarter. Huntington National Bank now owns 1,804 shares of the bank’s stock worth $54,000 after acquiring an additional 775 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in Citizens Financial Group in the 3rd quarter worth about $113,000. Synovus Financial Corp increased its holdings in Citizens Financial Group by 67.3% in the 3rd quarter. Synovus Financial Corp now owns 3,524 shares of the bank’s stock worth $137,000 after acquiring an additional 1,417 shares during the last quarter. Finally, First Mercantile Trust Co. increased its holdings in Citizens Financial Group by 56.7% in the 4th quarter. First Mercantile Trust Co. now owns 3,870 shares of the bank’s stock worth $115,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors own 96.94% of the company’s stock.
In other Citizens Financial Group news, Director Shivan S. Subramaniam acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, November 21st. The stock was bought at an average price of $35.32 per share, with a total value of $105,960.00. Following the completion of the acquisition, the director now owns 38,963 shares of the company’s stock, valued at $1,376,173.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by insiders.
CFG stock opened at $35.32 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. The stock has a market cap of $16.53 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 0.59 and a beta of 1.42. Citizens Financial Group Inc has a twelve month low of $27.62 and a twelve month high of $46.96.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, January 18th. The bank reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.60 billion. Citizens Financial Group had a return on equity of 8.67% and a net margin of 23.20%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. Sell-side analysts expect that Citizens Financial Group Inc will post 3.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Thursday, January 31st will be issued a dividend of $0.32 per share. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, January 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.62%. Citizens Financial Group’s payout ratio is presently 35.96%.
Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup raised Citizens Financial Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, January 9th. Goldman Sachs Group raised Citizens Financial Group to a “buy” rating and decreased their price objective for the stock from $44.00 to $40.00 in a report on Monday, January 7th. Barclays decreased their price objective on Citizens Financial Group from $51.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, January 2nd. Finally, Royal Bank of Canada raised Citizens Financial Group from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 2nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $40.82.
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Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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