Sumitomo Mitsui Trust Group Inc. Sells 58,655 Shares of Citizens Financial Group, Inc. $CFG

Sumitomo Mitsui Trust Group Inc. reduced its position in Citizens Financial Group, Inc. (NYSE:CFG) by 5.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 998,526 shares of the bank’s stock after selling 58,655 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Citizens Financial Group worth $59,882,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Citizens Financial Group in the fourth quarter worth approximately $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Citizens Financial Group during the fourth quarter worth approximately $29,000. Activest Wealth Management raised its stake in shares of Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after acquiring an additional 504 shares in the last quarter. DV Equities LLC bought a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $35,000. Finally, State of Wyoming bought a new stake in shares of Citizens Financial Group in the 2nd quarter worth approximately $39,000. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Trading Up 0.7%

Shares of CFG traded up $0.50 during mid-day trading on Friday, hitting $70.36. 3,690,539 shares of the company’s stock traded hands, compared to its average volume of 4,578,129. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $29.75 billion, a P/E ratio of 16.63, a PEG ratio of 0.58 and a beta of 0.67. The business’s 50-day moving average price is $65.71 and its 200-day moving average price is $63.17. Citizens Financial Group, Inc. has a 1 year low of $45.90 and a 1 year high of $72.94.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. As a group, sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.22 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 43.50%.

Insider Activity at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group 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 sale, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada lifted their price objective on Citizens Financial Group from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Morgan Stanley boosted their target price on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Citizens Financial Group in a report on Tuesday, June 9th. Finally, Weiss Ratings upgraded Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.35.

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.