Sei Investments Co. Boosts Stock Position in Citizens Financial Group, Inc. $CFG

Sei Investments Co. raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 6.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 349,068 shares of the bank’s stock after purchasing an additional 21,987 shares during the period. Sei Investments Co. owned about 0.08% of Citizens Financial Group worth $20,937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of Citizens Financial Group by 5.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank’s stock valued at $29,968,000 after acquiring an additional 25,180 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Citizens Financial Group by 0.3% in 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 during the period. Jupiter Asset Management Ltd. boosted 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 worth $15,799,000 after purchasing an additional 85,052 shares during the period. Todd Asset Management LLC increased its stake in Citizens Financial Group by 10.6% during 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 last quarter. Finally, HighTower Advisors LLC increased its stake in Citizens Financial Group by 51.8% during the fourth quarter. HighTower Advisors LLC now owns 58,648 shares of the bank’s stock valued at $3,426,000 after purchasing an additional 20,008 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $72.91 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $30.83 billion, a PE ratio of 15.82, a P/E/G ratio of 0.54 and a beta of 0.67. Citizens Financial Group, Inc. has a 1-year low of $45.90 and a 1-year high of $74.70. The business’s fifty day moving average price is $67.91 and its two-hundred day moving average price is $64.22.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, July 30th. Citizens Financial Group’s payout ratio is presently 39.91%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. UBS Group lifted their price target on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Cantor Fitzgerald increased their price objective on shares of Citizens Financial Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Evercore reissued an “outperform” rating and issued a $80.00 target price on shares of Citizens Financial Group in a report on Monday, July 6th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.55.

Insider Transactions at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the sale, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.67% of the company’s stock.

About Citizens Financial Group

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.