SEB Asset Management AB Purchases Shares of 86,682 Citizens Financial Group, Inc. $CFG

SEB Asset Management AB purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the first quarter, HoldingsChannel reports. The firm purchased 86,682 shares of the bank’s stock, valued at approximately $5,198,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Citizens Financial Group by 5.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank’s stock worth $29,968,000 after acquiring an additional 25,180 shares during the period. Dynamic Advisor Solutions LLC purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth about $2,412,000. Geode Capital Management LLC raised its stake in Citizens Financial Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after purchasing an additional 32,264 shares during the period. Jupiter Asset Management Ltd. lifted its holdings in Citizens Financial Group by 45.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock worth $15,799,000 after purchasing an additional 85,052 shares in the last quarter. Finally, Todd Asset Management LLC lifted its holdings in Citizens Financial Group by 10.6% in the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock worth $57,914,000 after purchasing an additional 94,774 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 0.6%

Shares of CFG opened at $72.44 on Thursday. The stock has a market capitalization of $30.63 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.55 and a beta of 0.67. Citizens Financial Group, Inc. has a 1 year low of $45.90 and a 1 year high of $74.70. The business’s 50 day simple moving average is $67.05 and its 200-day simple moving average is $63.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.5%. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.

Insider Buying and Selling

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the transaction, the insider directly owned 22,565 shares of the company’s stock, valued at $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CFG has been the subject of several recent analyst reports. Evercore restated an “outperform” rating and issued a $80.00 price target on shares of Citizens Financial Group in a research note on Monday, July 6th. Cantor Fitzgerald boosted their target price on shares of Citizens Financial Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Citigroup upped their target price on shares of Citizens Financial Group from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday. Barclays raised their target price on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, Robert W. Baird lifted their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.55.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.