Shell Asset Management Co. Trims Holdings in Citizens Financial Group, Inc. $CFG

Shell Asset Management Co. reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 35.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 34,141 shares of the bank’s stock after selling 18,996 shares during the period. Shell Asset Management Co.’s holdings in Citizens Financial Group were worth $1,815,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. NewEdge Advisors LLC increased its position in Citizens Financial Group by 2.4% in the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after acquiring an additional 274 shares during the period. Empowered Funds LLC increased its holdings in shares of Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after purchasing an additional 554 shares during the period. Woodline Partners LP raised its stake in shares of Citizens Financial Group by 39.5% during the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock worth $1,513,000 after purchasing an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after purchasing an additional 4,739 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new position in Citizens Financial Group in the 2nd quarter valued at $234,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $65.09 on Monday. The stock has a fifty day moving average price of $61.42 and a 200 day moving average price of $54.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market cap of $27.66 billion, a PE ratio of 16.82, a P/E/G ratio of 0.53 and a beta of 0.72. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $68.79.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be given a $0.46 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $1.84 annualized dividend and a dividend yield of 2.8%. Citizens Financial Group’s dividend payout ratio is currently 47.55%.

Wall Street Analyst Weigh In

CFG has been the subject of several recent analyst reports. Barclays set a $77.00 target price on shares of Citizens Financial Group and gave the stock an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley lifted their price objective on Citizens Financial Group from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Royal Bank Of Canada increased their target price on Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. New Street Research set a $73.00 price target on Citizens Financial Group in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.77.

About Citizens Financial Group

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.