Citizens Financial Group, Inc. $CFG Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 12.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 160,027 shares of the bank’s stock after selling 22,023 shares during the period. Guggenheim Capital LLC’s holdings in Citizens Financial Group were worth $7,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in shares of Citizens Financial Group by 1.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock valued at $1,582,000 after buying an additional 512 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Citizens Financial Group by 5.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock worth $38,315,000 after acquiring an additional 42,971 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Citizens Financial Group during the first quarter worth $3,177,000. Nordea Investment Management AB lifted its holdings in Citizens Financial Group by 20.7% during the second quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock valued at $287,932,000 after purchasing an additional 1,098,684 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in shares of Citizens Financial Group by 78.7% in the second quarter. Pinnacle Associates Ltd. now owns 19,735 shares of the bank’s stock valued at $883,000 after purchasing an additional 8,693 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 0.6%

Shares of Citizens Financial Group stock opened at $55.54 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $52.09 and its 200-day simple moving average is $48.81. The stock has a market cap of $23.86 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.59 and a beta of 0.74. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $56.17.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. Analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, October 29th. This represents a $1.84 annualized dividend and a dividend yield of 3.3%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s payout ratio is presently 51.54%.

Analysts Set New Price Targets

CFG has been the subject of several research analyst reports. Citigroup upped their price target on shares of Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Barclays boosted their price objective on Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 16th. Cantor Fitzgerald initiated coverage on Citizens Financial Group in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 target price on the stock. Evercore ISI boosted their price target on Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Citizens Financial Group in a research note on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $56.57.

Citizens Financial Group 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.