MV Capital Management Inc. Invests $3.56 Million in Citizens Financial Group, Inc. $CFG

MV Capital Management Inc. purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 4th quarter, Holdings Channel.com reports. The firm purchased 61,041 shares of the bank’s stock, valued at approximately $3,565,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Citizens Financial Group in the fourth quarter worth $355,909,000. AQR Capital Management LLC grew its stake in shares of Citizens Financial Group by 56.9% in the fourth quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock worth $451,075,000 after acquiring an additional 2,799,050 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Citizens Financial Group by 89.4% during the fourth quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank’s stock valued at $276,372,000 after acquiring an additional 2,232,806 shares in the last quarter. Amundi increased its holdings in shares of Citizens Financial Group by 136.4% during the fourth quarter. Amundi now owns 3,513,388 shares of the bank’s stock valued at $205,217,000 after acquiring an additional 2,027,255 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Citizens Financial Group by 32.3% in the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock worth $467,389,000 after purchasing an additional 1,953,372 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.5%

Citizens Financial Group stock opened at $67.11 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a one year low of $41.37 and a one year high of $68.79. The stock has a market capitalization of $28.38 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.53 and a beta of 0.68. The business’s fifty day moving average is $64.00 and its 200 day moving average is $61.75.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $0.77 EPS. Citizens Financial Group’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared 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 was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.7%. Citizens Financial Group’s payout ratio is currently 43.50%.

Insider Activity at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 22,565 shares of the company’s stock, valued at $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on CFG shares. Keefe, Bruyette & Woods increased their price objective on shares of Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Citizens Financial Group in a report on Tuesday, June 9th. Royal Bank Of Canada upped their target price on shares of Citizens Financial Group from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Evercore reiterated an “outperform” rating and set a $75.00 price target on shares of Citizens Financial Group in a report on Tuesday, April 21st. Finally, Morgan Stanley reduced their price target on shares of Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Eighteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus 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.