Citizens Financial Group, Inc. (NYSE:CFG) Position Raised by American Century Companies Inc.

American Century Companies Inc. boosted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 2.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,454 shares of the bank’s stock after purchasing an additional 5,191 shares during the period. American Century Companies Inc.’s holdings in Citizens Financial Group were worth $7,366,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital International Investors boosted its stake in Citizens Financial Group by 4.4% during the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after buying an additional 1,552,333 shares in the last quarter. LSV Asset Management boosted its position in shares of Citizens Financial Group by 1.8% during the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after purchasing an additional 113,300 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Citizens Financial Group by 15.3% in the 1st quarter. Nordea Investment Management AB now owns 3,625,128 shares of the bank’s stock worth $130,722,000 after purchasing an additional 480,129 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Citizens Financial Group by 96.3% in the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after purchasing an additional 1,212,642 shares in the last quarter. Finally, Scout Investments Inc. boosted its holdings in Citizens Financial Group by 34.5% during the fourth quarter. Scout Investments Inc. now owns 1,554,485 shares of the bank’s stock worth $51,516,000 after buying an additional 399,120 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CFG. UBS Group upped their price target on 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 assumed coverage on Citizens Financial Group in a research report on Thursday, July 11th. They issued a “market perform” rating for the company. Jefferies Financial Group upped their price objective on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada lifted their target price on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Stephens upped their price target on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. 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 an average target price of $42.20.

Citizens Financial Group Price Performance

Shares of CFG opened at $41.04 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market cap of $18.67 billion, a PE ratio of 14.87, a PEG ratio of 1.42 and a beta of 1.08. The firm’s 50 day moving average price is $41.17 and its 200 day moving average price is $37.21. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $43.96.

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

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 4.09%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

About Citizens Financial Group

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.