State of New Jersey Common Pension Fund D Has $4.28 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

State of New Jersey Common Pension Fund D lessened its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 40.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 118,788 shares of the bank’s stock after selling 82,005 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Citizens Financial Group were worth $4,280,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in Citizens Financial Group during the second quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares during the last quarter. Private Ocean LLC raised its holdings in shares of Citizens Financial Group by 484.4% in the second 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 raised its holdings in shares of Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after purchasing an additional 714 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Citizens Financial Group in the second quarter valued at about $48,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now directly 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 SEC, which is available at this link. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the subject of several analyst reports. Stephens increased their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 19th. UBS Group increased their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Raymond James initiated coverage on shares of Citizens Financial Group in a research report on Thursday, July 11th. They set a “market perform” rating for the company. Piper Sandler increased their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group increased their price target on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group currently has an average rating of “Hold” and a consensus target price of $42.20.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $40.60 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $18.20 billion, a PE ratio of 14.71, a P/E/G ratio of 1.42 and a beta of 1.08. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $43.96. The company has a 50-day moving average price of $40.81 and a two-hundred day moving average price of $36.92.

Citizens Financial Group (NYSE:CFG) last issued its 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). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the business earned $0.92 EPS. Citizens Financial Group’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts forecast that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s payout ratio is 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.