Handelsbanken Fonder AB Sells 41,863 Shares of Citizens Financial Group, Inc. $CFG

Handelsbanken Fonder AB decreased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 73.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,212 shares of the bank’s stock after selling 41,863 shares during the period. Handelsbanken Fonder AB’s holdings in Citizens Financial Group were worth $1,066,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Citizens Financial Group by 0.3% in the fourth 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 in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Citizens Financial Group by 45.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock worth $15,799,000 after buying an additional 85,052 shares in the last quarter. Todd Asset Management LLC lifted its holdings in Citizens Financial Group by 10.6% during the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock worth $57,914,000 after buying an additional 94,774 shares in the last quarter. HighTower Advisors LLC boosted its position in Citizens Financial Group by 51.8% in the 4th quarter. HighTower Advisors LLC now owns 58,648 shares of the bank’s stock valued at $3,426,000 after buying an additional 20,008 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in Citizens Financial Group by 20.7% in the 4th quarter. Systematic Financial Management LP now owns 100,617 shares of the bank’s stock valued at $5,877,000 after buying an additional 17,225 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

CFG stock opened at $70.75 on Thursday. The business’s fifty day moving average is $71.04 and its 200-day moving average is $65.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The company has a market cap of $29.80 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. Citizens Financial Group, Inc. has a twelve month low of $47.96 and a twelve month high of $75.33.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the company earned $0.92 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore restated an “outperform” rating and set a $80.00 target price on shares of Citizens Financial Group in a research report on Monday, July 6th. Morgan Stanley raised their price target on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Barclays lifted their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Truist Financial upped their target price on shares of Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Citizens Financial Group in a research note on Friday, August 14th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and an average target price of $79.25.

Insider Activity

In other news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Profile

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.