UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Citizens Financial Group, Inc. $CFG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,293,426 shares of the bank’s stock after selling 50,743 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.78% of Citizens Financial Group worth $230,770,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth $3,415,046,000. Geode Capital Management LLC boosted its holdings in Citizens Financial Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock worth $661,052,000 after buying an additional 32,264 shares in the last quarter. Morgan Stanley boosted its holdings in Citizens Financial Group by 2.7% during the fourth quarter. Morgan Stanley now owns 11,217,975 shares of the bank’s stock worth $655,242,000 after buying an additional 298,779 shares in the last quarter. Capital International Investors grew its position in Citizens Financial Group by 32.3% during the fourth quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock worth $467,389,000 after buying an additional 1,953,372 shares during the period. Finally, AQR Capital Management LLC grew its position in Citizens Financial Group by 56.9% during the fourth quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock worth $451,075,000 after buying an additional 2,799,050 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CFG shares. Stephens lifted their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. upped their price target on Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Truist Financial raised their price objective on Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. DA Davidson reaffirmed a “neutral” rating on shares of Citizens Financial Group in a report on Friday, August 14th. Finally, Cantor Fitzgerald boosted their target price on Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Citizens Financial Group Trading Down 1.1%

Shares of CFG opened at $68.95 on Tuesday. 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 50 day simple moving average of $71.48 and a 200-day simple moving average of $65.68. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The stock has a market cap of $29.04 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data 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 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 period in the prior year, the business earned $0.92 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. This trade represents a 10.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.67% of the company’s stock.

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.