Cinctive Capital Management LP Sells 104,041 Shares of Citizens Financial Group, Inc. $CFG

Cinctive Capital Management LP lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 43.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,527 shares of the bank’s stock after selling 104,041 shares during the period. Cinctive Capital Management LP’s holdings in Citizens Financial Group were worth $7,916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Channing Capital Management LLC bought a new stake in shares of Citizens Financial Group during the 3rd quarter worth approximately $7,528,000. Allspring Global Investments Holdings LLC raised its stake in shares of Citizens Financial Group by 5.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank’s stock worth $29,968,000 after purchasing an additional 25,180 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Citizens Financial Group in the 4th quarter valued at $2,412,000. WealthTrust Asset Management LLC bought a new stake in Citizens Financial Group in the 3rd quarter valued at $891,000. Finally, Todd Asset Management LLC raised its stake 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 valued at $57,914,000 after acquiring an additional 94,774 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $66.74 on Thursday. The stock’s 50-day simple moving average is $63.89 and its 200 day simple moving average is $61.66. The firm has a market capitalization of $28.22 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.53 and a beta of 0.68. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. Citizens Financial Group, Inc. has a twelve month low of $40.41 and a twelve month high of $68.79.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.Citizens Financial Group’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, analysts anticipate that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 43.50%.

Insider Activity

In other news, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the transaction, the insider directly owned 22,565 shares in the company, valued at $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CFG. Truist Financial increased their price target on Citizens Financial Group from $63.00 to $69.00 and gave the company a “hold” rating in a research note on Friday, April 17th. DA Davidson increased their price target on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Morgan Stanley dropped their price target on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada increased their price target on Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Weiss Ratings upgraded Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Eighteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.88.

Citizens Financial Group Company 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.