Munich Reinsurance Co Stock Corp in Munich Increases Stake in Citizens Financial Group, Inc. $CFG

Munich Reinsurance Co Stock Corp in Munich grew its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 62.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,009 shares of the bank’s stock after purchasing an additional 40,000 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Citizens Financial Group were worth $6,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Citizens Financial Group by 5.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank’s stock valued at $29,968,000 after purchasing an additional 25,180 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Citizens Financial Group during the fourth quarter worth approximately $2,412,000. Geode Capital Management LLC boosted its position in Citizens Financial Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock worth $661,052,000 after purchasing an additional 32,264 shares in the last quarter. Todd Asset Management LLC grew its holdings in Citizens Financial Group by 10.6% in the fourth quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock valued at $57,914,000 after purchasing an additional 94,774 shares during the period. Finally, Jupiter Asset Management Ltd. grew its holdings in Citizens Financial Group by 45.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock valued at $15,799,000 after purchasing an additional 85,052 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Transactions at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Weiss Ratings raised shares of Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Robert W. Baird reissued a “neutral” rating and issued a $72.00 price target on shares of Citizens Financial Group in a report on Monday. DA Davidson upped their price objective on shares of Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, UBS Group increased their price objective on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group has an average rating of “Moderate Buy” and an average price target of $74.35.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $68.54 on Thursday. The stock has a market capitalization of $28.98 billion, a P/E ratio of 16.20, a PEG ratio of 0.57 and a beta of 0.67. The business has a 50 day simple moving average of $65.49 and a two-hundred day simple moving average of $63.05. Citizens Financial Group, Inc. has a 12 month low of $45.90 and a 12 month high of $72.94. 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 (NYSE:CFG) last issued its quarterly 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. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. As a group, analysts predict that Citizens Financial Group, Inc. will post 5.22 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group’s payout ratio is 43.50%.

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.