Desjardins Global Asset Management Inc. Sells 1,785 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Desjardins Global Asset Management Inc. trimmed its position in Citizens Financial Group, Inc. (NYSE:CFG) by 61.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,143 shares of the bank’s stock after selling 1,785 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Citizens Financial Group were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CFG. Lindbrook Capital LLC lifted its holdings in shares of Citizens Financial Group by 100.8% in the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock valued at $26,000 after purchasing an additional 496 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $28,000. Clear Street Markets LLC lifted its holdings in shares of Citizens Financial Group by 93.6% in the first quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after purchasing an additional 466 shares in the last quarter. Authentikos Wealth Advisory LLC bought a new stake in shares of Citizens Financial Group in the third quarter valued at about $40,000. Finally, CVA Family Office LLC bought a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $40,000. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CFG shares. TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Barclays lowered Citizens Financial Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. Jefferies Financial Group upped their target price on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada upped their target price on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.29.

Insider Activity

In other news, insider Craig Jack Read sold 4,508 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the transaction, the insider now owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is owned by company insiders.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $33.99 on Friday. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $36.38. The stock’s 50 day moving average is $33.33 and its 200-day moving average is $30.63. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $15.58 billion, a price-to-earnings ratio of 12.32 and a beta of 1.38.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company posted $1.00 EPS. Citizens Financial Group’s revenue for the quarter was down 7.9% compared to the same quarter last year. Equities research analysts expect that Citizens Financial Group, Inc. will post 3.25 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s payout ratio is 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.