Quantitative Investment Management LLC Has $1.93 Million Holdings in Citizens Financial Group, Inc. $CFG

Quantitative Investment Management LLC increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 373.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,545 shares of the bank’s stock after purchasing an additional 21,726 shares during the period. Quantitative Investment Management LLC’s holdings in Citizens Financial Group were worth $1,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Citizens Financial Group in the 2nd quarter worth $3,415,046,000. Norges Bank bought a new stake in Citizens Financial Group during the fourth quarter valued at about $355,909,000. Bank of America Corp DE bought a new stake in Citizens Financial Group during the second quarter valued at about $223,386,000. Legal & General Group Plc acquired a new stake in shares of Citizens Financial Group in the second quarter valued at about $207,234,000. Finally, AQR Capital Management LLC grew its position in shares of Citizens Financial Group by 56.9% in the fourth quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock valued at $451,075,000 after purchasing an additional 2,799,050 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Activity at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Argus set a $80.00 price target on Citizens Financial Group in a research report on Wednesday, July 29th. Cantor Fitzgerald upped their price target on Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Stephens increased their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.25.

Citizens Financial Group Stock Down 1.1%

CFG stock opened at $68.95 on Tuesday. Citizens Financial Group, Inc. has a twelve month low of $47.96 and a twelve month high of $75.33. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The company has a market cap of $29.04 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The business’s 50-day simple moving average is $71.48 and its 200 day simple moving average is $65.68.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts anticipate that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.7%. Citizens Financial Group’s payout ratio is currently 39.91%.

Citizens Financial Group Company Profile

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.