Point72 Asset Management L.P. Acquires 602,666 Shares of Citizens Financial Group Inc (NYSE:CFG)

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Point72 Asset Management L.P. raised its holdings in Citizens Financial Group Inc (NYSE:CFG) by 100.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,205,478 shares of the bank’s stock after buying an additional 602,666 shares during the quarter. Point72 Asset Management L.P. owned 0.27% of Citizens Financial Group worth $42,626,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Eminence Capital LP bought a new stake in Citizens Financial Group during the 2nd quarter valued at $87,590,000. BlackRock Inc. raised its stake in Citizens Financial Group by 4.2% in the 1st quarter. BlackRock Inc. now owns 43,794,858 shares of the bank’s stock worth $1,423,333,000 after acquiring an additional 1,753,064 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $56,779,000. MARSHALL WACE ASIA Ltd raised its stake in shares of Citizens Financial Group by 100.9% during the 1st quarter. MARSHALL WACE ASIA Ltd now owns 2,496,338 shares of the bank’s stock valued at $81,131,000 after buying an additional 1,253,939 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Citizens Financial Group by 75.0% during the 2nd quarter. Prudential Financial Inc. now owns 2,796,300 shares of the bank’s stock valued at $98,877,000 after buying an additional 1,198,821 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the company. UBS Group lowered Citizens Financial Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $38.00 in a research note on Wednesday, July 10th. Zacks Investment Research downgraded shares of Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 target price on the stock. in a report on Friday, July 12th. JPMorgan Chase & Co. dropped their target price on shares of Citizens Financial Group from $41.50 to $40.50 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Argus upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Monday, July 29th. Finally, Citigroup downgraded shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $35.00 in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Citizens Financial Group has a consensus rating of “Hold” and a consensus price target of $40.42.

Shares of Citizens Financial Group stock traded down $0.29 during trading on Friday, hitting $35.88. The stock had a trading volume of 7,281,918 shares, compared to its average volume of 3,645,629. The stock has a 50 day simple moving average of $34.00 and a 200 day simple moving average of $34.79. The company has a market capitalization of $16.37 billion, a PE ratio of 10.08, a P/E/G ratio of 1.77 and a beta of 1.47. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.55. Citizens Financial Group Inc has a 1 year low of $27.62 and a 1 year high of $41.17.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, July 19th. The bank reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Citizens Financial Group had a net margin of 22.61% and a return on equity of 8.94%. During the same period last year, the firm posted $0.88 earnings per share. As a group, equities analysts expect that Citizens Financial Group Inc will post 3.82 earnings per share for the current fiscal year.

In other news, Director Charles John Koch bought 15,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average cost of $32.45 per share, with a total value of $486,750.00. Following the completion of the transaction, the director now directly owns 68,781 shares in the company, valued at approximately $2,231,943.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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