Ethic Inc. Buys 9,758 Shares of Citizens Financial Group, Inc. $CFG

Ethic Inc. lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 15.8% during the fourth quarter, Holdings Channel reports. The fund owned 71,523 shares of the bank’s stock after buying an additional 9,758 shares during the quarter. Ethic Inc.’s holdings in Citizens Financial Group were worth $4,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CFG. Alyeska Investment Group L.P. bought a new stake in Citizens Financial Group in the third quarter valued at $87,173,000. Zurich Insurance Group Ltd FI boosted its position in shares of Citizens Financial Group by 326.3% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 2,082,961 shares of the bank’s stock worth $110,730,000 after purchasing an additional 1,594,326 shares in the last quarter. Artemis Investment Management LLP boosted its position in shares of Citizens Financial Group by 160.4% during the 4th quarter. Artemis Investment Management LLP now owns 2,448,050 shares of the bank’s stock worth $142,991,000 after purchasing an additional 1,508,070 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Citizens Financial Group by 411.6% in the 4th quarter. Impax Asset Management Group plc now owns 1,729,587 shares of the bank’s stock valued at $101,025,000 after buying an additional 1,391,483 shares during the period. Finally, Ninety One UK Ltd grew its stake in shares of Citizens Financial Group by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 6,574,714 shares of the bank’s stock valued at $384,029,000 after buying an additional 763,098 shares during the period. 94.90% of the stock is owned by institutional investors.

Insider Transactions at Citizens Financial Group

In related news, insider Susan Lamonica sold 13,258 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at approximately $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.

Citizens Financial Group Trading Down 0.0%

CFG opened at $63.70 on Monday. Citizens Financial Group, Inc. has a fifty-two week low of $38.80 and a fifty-two week high of $68.79. The firm has a market capitalization of $26.94 billion, a PE ratio of 15.06, a P/E/G ratio of 0.51 and a beta of 0.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. The company’s 50-day moving average is $61.35 and its 200 day moving average is $59.25.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. As a group, research analysts predict that Citizens Financial Group, Inc. will post 5.19 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.9%. Citizens Financial Group’s payout ratio is presently 43.50%.

Analyst Ratings Changes

A number of research firms recently weighed in on CFG. Argus upped their price target on Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. DA Davidson raised their price objective on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Royal Bank Of Canada boosted their price objective on Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 target price on shares of Citizens Financial Group in a research report on Tuesday, March 3rd. Finally, Truist Financial increased their target price on Citizens Financial Group from $63.00 to $69.00 and gave the stock a “hold” rating in a report on Friday, April 17th. Nineteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.88.

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.