Invesco Ltd. Decreases Position in Citizens Financial Group, Inc. $CFG

Invesco Ltd. lessened its position in Citizens Financial Group, Inc. (NYSE:CFG) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,734,156 shares of the bank’s stock after selling 1,330,357 shares during the period. Invesco Ltd. owned about 0.05% of Citizens Financial Group worth $1,327,902,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Citizens Financial Group in the 4th quarter worth approximately $26,000. Activest Wealth Management boosted its stake in Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after purchasing an additional 504 shares during the last quarter. DV Equities LLC purchased a new stake in Citizens Financial Group during the 4th quarter valued at $35,000. State of Wyoming bought a new stake in shares of Citizens Financial Group in the 2nd quarter worth $39,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Citizens Financial Group by 632.0% in the 4th quarter. Fortitude Family Office LLC now owns 710 shares of the bank’s stock worth $41,000 after purchasing an additional 613 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

CFG stock opened at $67.11 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a 1 year low of $41.37 and a 1 year high of $68.79. The company has a market cap of $28.38 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 0.53 and a beta of 0.68. The stock’s fifty day moving average price is $64.00 and its 200-day moving average price is $61.75.

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

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 2.7%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group’s payout ratio is currently 43.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CFG shares. JPMorgan Chase & Co. upped their price target on Citizens Financial Group from $68.00 to $68.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley reduced their price objective on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Robert W. Baird raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Monday, March 9th. Citigroup restated a “buy” rating on shares of Citizens Financial Group in a research note on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating and issued a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Eighteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.88.

Insider Activity at Citizens Financial Group

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

Citizens Financial Group 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.