American International Group Inc. lifted its holdings in Citizens Financial Group Inc (NYSE:CFG) by 9.1% in the 4th quarter, Holdings Channel reports. The firm owned 204,128 shares of the bank’s stock after buying an additional 17,023 shares during the quarter. American International Group Inc.’s holdings in Citizens Financial Group were worth $8,569,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at $131,000. Valeo Financial Advisors LLC lifted its stake in shares of Citizens Financial Group by 128.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 3,148 shares of the bank’s stock valued at $132,000 after purchasing an additional 1,770 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Citizens Financial Group by 315.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,397 shares of the bank’s stock valued at $142,000 after purchasing an additional 2,580 shares during the last quarter. Loeb Partners Corp acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at $210,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at $216,000. 97.50% of the stock is owned by institutional investors and hedge funds.
In related news, Director Wendy A. Watson sold 4,000 shares of Citizens Financial Group stock in a transaction on Friday, December 1st. The shares were sold at an average price of $40.31, for a total value of $161,240.00. Following the transaction, the director now owns 12,917 shares in the company, valued at approximately $520,684.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 19th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. analysts expect that Citizens Financial Group Inc will post 3.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.01%. The ex-dividend date was Wednesday, January 31st. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.18. Citizens Financial Group’s dividend payout ratio (DPR) is 26.91%.
Several research firms recently issued reports on CFG. Sanford C. Bernstein set a $52.00 price objective on shares of Citizens Financial Group and gave the company a “buy” rating in a research note on Monday, January 22nd. TheStreet raised shares of Citizens Financial Group from a “c” rating to an “a+” rating in a research note on Monday, November 27th. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, December 4th. BMO Capital Markets raised shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $40.00 to $39.00 in a research note on Tuesday, December 19th. Finally, Morgan Stanley lifted their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.36.
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About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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