Resona Asset Management Co. Ltd. Lowers Stake in Citizens Financial Group, Inc. $CFG

Resona Asset Management Co. Ltd. reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.7% during the 4th quarter, HoldingsChannel reports. The firm owned 133,261 shares of the bank’s stock after selling 8,034 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Citizens Financial Group were worth $7,801,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AA Financial Advisors LLC raised its stake in Citizens Financial Group by 3.9% during the 4th quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock valued at $272,000 after acquiring an additional 174 shares during the last quarter. Inscription Capital LLC raised its stake in Citizens Financial Group by 1.6% during the 4th quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock valued at $637,000 after acquiring an additional 175 shares during the last quarter. Grove Bank & Trust raised its stake in Citizens Financial Group by 19.8% during the 4th quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock valued at $65,000 after acquiring an additional 183 shares during the last quarter. MGO One Seven LLC raised its stake in Citizens Financial Group by 3.7% during the 4th quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock valued at $308,000 after acquiring an additional 187 shares during the last quarter. Finally, CRA Financial Services LLC raised its stake in Citizens Financial Group by 4.6% during the 4th quarter. CRA Financial Services LLC now owns 4,477 shares of the bank’s stock valued at $262,000 after acquiring an additional 195 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on CFG shares. Truist Financial upped their price target on Citizens Financial Group from $63.00 to $69.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. DA Davidson upped their price target on Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Royal Bank Of Canada upped their price target on Citizens Financial Group from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Weiss Ratings upgraded Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods upped their price target on Citizens Financial Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Nineteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $70.88.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $62.81 on Friday. The company has a market cap of $26.56 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 0.50 and a beta of 0.70. The stock has a 50 day simple moving average of $61.67 and a 200-day simple moving average of $60.02. Citizens Financial Group, Inc. has a 12-month low of $38.80 and a 12-month high of $68.79. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 5.19 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio is 43.50%.

Insider Buying and Selling

In related news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider owned 22,565 shares in the company, valued at $1,402,640.40. This represents a 21.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Susan Lamonica sold 13,258 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at approximately $9,632,956.84. This represents a 7.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.67% of the company’s stock.

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.