Raymond James & Associates Sells 62,956 Shares of Citizens Financial Group Inc (CFG)

Raymond James & Associates trimmed its holdings in shares of Citizens Financial Group Inc (NYSE:CFG) by 27.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 167,143 shares of the bank’s stock after selling 62,956 shares during the quarter. Raymond James & Associates’ holdings in Citizens Financial Group were worth $4,969,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CFG. BlackRock Inc. grew its holdings in Citizens Financial Group by 2.9% during the third quarter. BlackRock Inc. now owns 42,438,174 shares of the bank’s stock worth $1,636,839,000 after acquiring an additional 1,208,420 shares during the period. JPMorgan Chase & Co. grew its holdings in Citizens Financial Group by 14.8% during the third quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock worth $655,180,000 after acquiring an additional 2,189,838 shares during the period. LSV Asset Management grew its holdings in Citizens Financial Group by 9.0% during the fourth quarter. LSV Asset Management now owns 9,171,729 shares of the bank’s stock worth $272,675,000 after acquiring an additional 759,769 shares during the period. Bank of Montreal Can grew its holdings in Citizens Financial Group by 6.8% during the fourth quarter. Bank of Montreal Can now owns 5,671,400 shares of the bank’s stock worth $168,610,000 after acquiring an additional 359,278 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in Citizens Financial Group by 18.7% during the third quarter. Panagora Asset Management Inc. now owns 5,303,647 shares of the bank’s stock worth $204,562,000 after acquiring an additional 835,810 shares during the period. 96.94% of the stock is currently owned by institutional investors.

In other Citizens Financial Group news, Director Shivan S. Subramaniam acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was purchased at an average cost of $35.32 per share, for a total transaction of $105,960.00. Following the transaction, the director now owns 38,963 shares of the company’s stock, valued at approximately $1,376,173.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

CFG has been the topic of a number of analyst reports. Macquarie raised Citizens Financial Group from an “underperform” rating to a “neutral” rating and set a $38.00 price target on the stock in a research note on Monday, October 22nd. Bank of America raised Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Monday, October 22nd. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, November 19th. Finally, BMO Capital Markets dropped their price target on Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.91.

NYSE CFG traded up $0.13 during trading on Monday, reaching $35.45. 3,070,197 shares of the company’s stock were exchanged, compared to its average volume of 5,307,610. Citizens Financial Group Inc has a fifty-two week low of $27.62 and a fifty-two week high of $46.96. The firm has a market capitalization of $16.53 billion, a PE ratio of 9.96, a PEG ratio of 0.59 and a beta of 1.42. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, January 18th. The bank reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. Citizens Financial Group had a return on equity of 8.67% and a net margin of 23.20%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $0.71 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts anticipate that Citizens Financial Group Inc will post 3.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, January 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.27. This represents a $1.28 dividend on an annualized basis and a yield of 3.61%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 35.96%.

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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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Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group Inc (NYSE:CFG).

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

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