DnB Asset Management AS lessened its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 64.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,577 shares of the bank’s stock after selling 101,000 shares during the period. DnB Asset Management AS’s holdings in Citizens Financial Group were worth $2,333,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CFG. Sun Life Financial INC increased its stake in Citizens Financial Group by 41,266.7% in the second quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock valued at $133,000 after purchasing an additional 3,714 shares in the last quarter. Lipe & Dalton bought a new stake in Citizens Financial Group in the third quarter valued at $207,000. Colony Group LLC bought a new stake in Citizens Financial Group in the second quarter valued at $210,000. Quotient Investors LLC bought a new stake in Citizens Financial Group in the third quarter valued at $227,000. Finally, Veritable L.P. increased its stake in Citizens Financial Group by 1.2% in the second quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock valued at $229,000 after purchasing an additional 79 shares in the last quarter. 98.48% of the stock is owned by institutional investors and hedge funds.
In related news, Director Wendy A. Watson sold 4,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $40.31, for a total transaction of $161,240.00. Following the transaction, the director now directly owns 12,917 shares in the company, valued at $520,684.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.
CFG has been the subject of several recent research reports. Barclays boosted their target price on shares of Citizens Financial Group from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Monday, December 4th. Citigroup reissued a “neutral” rating and set a $42.00 target price (up from $38.00) on shares of Citizens Financial Group in a research report on Monday, October 9th. Bank of America reissued an “underperform” rating and set a $40.00 target price (down from $41.00) on shares of Citizens Financial Group in a research report on Monday, October 2nd. Finally, Morgan Stanley boosted their target price on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Citizens Financial Group has a consensus rating of “Hold” and a consensus price target of $41.46.
Citizens Financial Group Inc (NYSE CFG) opened at $46.82 on Monday. Citizens Financial Group Inc has a twelve month low of $31.51 and a twelve month high of $47.32. The firm has a market cap of $23,035.04, a PE ratio of 14.32, a P/E/G ratio of 0.71 and a beta of 1.37. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.59.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 19th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. analysts predict that Citizens Financial Group Inc will post 3.13 EPS for the current year.
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Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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