Citizens Financial Group, Inc. $CFG Stock: Ninety One SA Pty Ltd Lowers Position

Ninety One SA Pty Ltd reduced its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 32.9% during the third quarter, Holdings Channel reports. The firm owned 163,472 shares of the bank’s stock after selling 80,180 shares during the period. Ninety One SA Pty Ltd’s holdings in Citizens Financial Group were worth $10,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $223,386,000. Freestone Grove Partners LP purchased a new position in shares of Citizens Financial Group in the 2nd quarter worth approximately $95,642,000. Tidal Investments LLC boosted its stake in shares of Citizens Financial Group by 12.4% in the 2nd quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock worth $10,187,000 after buying an additional 16,000 shares during the last quarter. Junto Capital Management LP boosted its stake in shares of Citizens Financial Group by 3.3% in the 2nd quarter. Junto Capital Management LP now owns 1,307,340 shares of the bank’s stock worth $91,605,000 after buying an additional 42,248 shares during the last quarter. Finally, Andra AP fonden grew its holdings in shares of Citizens Financial Group by 94.7% in the second quarter. Andra AP fonden now owns 269,900 shares of the bank’s stock valued at $18,912,000 after acquiring an additional 131,300 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG stock traded up $1.20 during trading hours on Thursday, hitting $63.77. 1,390,491 shares of the company were exchanged, compared to its average volume of 4,579,596. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $26.86 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.58 and a beta of 0.72. The firm has a fifty day simple moving average of $68.40 and a 200 day simple moving average of $67.03. Citizens Financial Group, Inc. has a 52-week low of $47.96 and a 52-week high of $75.33.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. Citizens Financial Group’s revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts predict that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. cut their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a research report on Friday, October 2nd. Argus set a $80.00 price objective on Citizens Financial Group in a research report on Wednesday, July 29th. Morgan Stanley reduced their price objective on Citizens Financial Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. Finally, Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus price target of $79.08.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.67% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.