Meiji Yasuda Asset Management Co Ltd. Raises Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Meiji Yasuda Asset Management Co Ltd. increased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,778 shares of the bank’s stock after purchasing an additional 458 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Citizens Financial Group were worth $568,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Citizens Financial Group in the second quarter valued at approximately $25,000. Versant Capital Management Inc increased its holdings in shares of Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares during the period. Private Ocean LLC raised its position in Citizens Financial Group by 484.4% in the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after purchasing an additional 838 shares during the last quarter. Quarry LP boosted its stake in Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Citizens Financial Group during the 2nd quarter worth $48,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the subject of a number of research reports. Raymond James initiated coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating for the company. Royal Bank of Canada lifted their target price on Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Evercore ISI upped their price target on Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Piper Sandler increased their price target on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, DA Davidson boosted their price objective on shares of Citizens Financial Group from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.20.

Citizens Financial Group Trading Down 1.3 %

Shares of Citizens Financial Group stock opened at $41.65 on Friday. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $43.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The business has a 50 day moving average price of $41.13 and a 200 day moving average price of $37.11. The company has a market capitalization of $18.95 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.42 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. Sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.03%. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Citizens Financial Group Company 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.