Citizens Financial Group, Inc. $CFG Stock: Nisa Investment Advisors LLC Boosts Holdings

Nisa Investment Advisors LLC increased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 649.0% during the third quarter, HoldingsChannel.com reports. The fund owned 1,063,823 shares of the bank’s stock after acquiring an additional 921,782 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Citizens Financial Group were worth $67,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE acquired a new position in shares of Citizens Financial Group in the second quarter worth $223,386,000. Freestone Grove Partners LP acquired a new stake in shares of Citizens Financial Group during the second quarter valued at $95,642,000. Tidal Investments LLC boosted its stake in shares of Citizens Financial Group by 12.4% during the second quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after acquiring an additional 16,000 shares during the last quarter. Junto Capital Management LP boosted its stake in shares of Citizens Financial Group by 3.3% during the second quarter. Junto Capital Management LP now owns 1,307,340 shares of the bank’s stock valued at $91,605,000 after acquiring an additional 42,248 shares during the last quarter. Finally, Andra AP fonden increased its position in Citizens Financial Group by 94.7% during the 2nd quarter. Andra AP fonden now owns 269,900 shares of the bank’s stock worth $18,912,000 after purchasing an additional 131,300 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE CFG opened at $64.25 on Wednesday. The business’s 50-day moving average price is $67.66 and its 200 day moving average price is $67.16. Citizens Financial Group, Inc. has a twelve month low of $49.00 and a twelve month high of $75.33. The company has a market capitalization of $27.06 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the business earned $1.05 EPS. On average, research analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a $0.52 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s dividend payout ratio is 41.85%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Royal Bank Of Canada cut their target price on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. TD Cowen started coverage on shares of Citizens Financial Group in a research note on Thursday, October 8th. They set a “buy” rating and a $75.00 price target on the stock. UBS Group lowered their price target on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.47.

Insider Activity

In related news, CEO Bruce Van Saun sold 129,369 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the sale, the chief executive officer directly owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.