State of New Jersey Common Pension Fund D Buys 260,000 Shares of Citizens Financial Group Inc (CFG)

State of New Jersey Common Pension Fund D lifted its stake in Citizens Financial Group Inc (NYSE:CFG) by 108.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the bank’s stock after acquiring an additional 260,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Citizens Financial Group were worth $19,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its stake in Citizens Financial Group by 332.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,127,049 shares of the bank’s stock worth $43,842,000 after buying an additional 866,396 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Citizens Financial Group by 23.4% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,036 shares of the bank’s stock worth $3,464,000 after buying an additional 16,875 shares during the last quarter. Verition Fund Management LLC grew its stake in Citizens Financial Group by 35.6% during the 2nd quarter. Verition Fund Management LLC now owns 92,205 shares of the bank’s stock worth $3,587,000 after buying an additional 24,185 shares during the last quarter. Bank of America Corp DE grew its stake in Citizens Financial Group by 1.5% during the 2nd quarter. Bank of America Corp DE now owns 3,697,242 shares of the bank’s stock worth $143,823,000 after buying an additional 55,276 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new position in Citizens Financial Group during the 2nd quarter worth $513,000. 96.79% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group stock opened at $36.37 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.68. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 0.69 and a beta of 1.38. Citizens Financial Group Inc has a fifty-two week low of $34.88 and a fifty-two week high of $48.23.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Citizens Financial Group had a return on equity of 7.59% and a net margin of 26.72%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. On average, research analysts forecast that Citizens Financial Group Inc will post 3.5 earnings per share for the current year.

Several brokerages recently weighed in on CFG. Zacks Investment Research downgraded Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. ValuEngine upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Finally, Morgan Stanley dropped their target price on Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.89.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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