American International Group Inc. Decreases Stake in Citizens Financial Group, Inc. (NYSE:CFG)

American International Group Inc. decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 2.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 122,249 shares of the bank’s stock after selling 2,734 shares during the period. American International Group Inc.’s holdings in Citizens Financial Group were worth $4,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at $33,000. Quarry LP lifted its stake in shares of Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Citizens Financial Group during the fourth quarter worth about $40,000. Blue Trust Inc. boosted its position in shares of Citizens Financial Group by 77.6% in the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after buying an additional 574 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Citizens Financial Group by 40.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock valued at $54,000 after buying an additional 472 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Up 0.3 %

CFG stock opened at $34.77 on Monday. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.34 and a beta of 1.10. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $37.30. The firm has a fifty day moving average price of $34.94 and a two-hundred day moving average price of $33.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company earned $1.00 EPS. Citizens Financial Group’s revenue was down 7.9% compared to the same quarter last year. Research analysts predict that Citizens Financial Group, Inc. will post 3.16 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.83%. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CFG shares. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 5th. Citigroup lifted their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Piper Sandler upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $41.00 in a report on Friday, April 26th. Morgan Stanley restated an “equal weight” rating and set a $38.00 target price on shares of Citizens Financial Group in a research note on Wednesday, June 12th. Finally, Jefferies Financial Group boosted their price target on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.67.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by corporate insiders.

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.