Louisiana State Employees Retirement System Acquires New Shares in Citizens Financial Group, Inc. $CFG

Louisiana State Employees Retirement System bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 21,700 shares of the bank’s stock, valued at approximately $1,301,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Silver Oak Securities Incorporated increased its holdings in Citizens Financial Group by 10.8% in the 1st quarter. Silver Oak Securities Incorporated now owns 14,125 shares of the bank’s stock worth $847,000 after buying an additional 1,373 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Citizens Financial Group by 60.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 16,142 shares of the bank’s stock valued at $968,000 after acquiring an additional 6,102 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Citizens Financial Group by 32.4% in the first quarter. Ritholtz Wealth Management now owns 9,736 shares of the bank’s stock worth $584,000 after acquiring an additional 2,382 shares during the period. BTC Capital Management Inc. raised its holdings in shares of Citizens Financial Group by 4.0% during the first quarter. BTC Capital Management Inc. now owns 88,816 shares of the bank’s stock valued at $5,325,000 after purchasing an additional 3,377 shares during the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of Citizens Financial Group by 13.8% during the first quarter. RFG Advisory LLC now owns 4,218 shares of the bank’s stock valued at $253,000 after purchasing an additional 513 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $70.97 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a 50-day simple moving average of $65.12 and a two-hundred day simple moving average of $62.76. The firm has a market capitalization of $30.01 billion, a PE ratio of 16.78, a P/E/G ratio of 0.56 and a beta of 0.67. Citizens Financial Group, Inc. has a 52-week low of $45.90 and a 52-week high of $72.46.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Analysts forecast that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

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

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group 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 transaction, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. DA Davidson lifted their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Citizens Financial Group in a report on Tuesday, June 9th. Truist Financial increased their target price on Citizens Financial Group from $69.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. Keefe, Bruyette & Woods boosted their price target on Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Weiss Ratings upgraded shares of Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Eighteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.38.

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.