Cozad Asset Management Inc. increased its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 21.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,388 shares of the bank’s stock after acquiring an additional 9,970 shares during the quarter. Cozad Asset Management Inc.’s holdings in Citizens Financial Group were worth $1,994,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in CFG. Pinebridge Investments L.P. lifted its position in Citizens Financial Group by 61.7% in the second quarter. Pinebridge Investments L.P. now owns 167,044 shares of the bank’s stock valued at $5,906,000 after buying an additional 63,730 shares during the last quarter. United Capital Financial Advisers LLC lifted its position in Citizens Financial Group by 2.5% in the second quarter. United Capital Financial Advisers LLC now owns 31,534 shares of the bank’s stock valued at $1,115,000 after buying an additional 776 shares during the last quarter. Profund Advisors LLC lifted its position in Citizens Financial Group by 32.1% in the second quarter. Profund Advisors LLC now owns 15,404 shares of the bank’s stock valued at $545,000 after buying an additional 3,739 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Citizens Financial Group by 8.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,646,723 shares of the bank’s stock valued at $58,228,000 after buying an additional 133,188 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Citizens Financial Group in the second quarter valued at about $25,742,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CFG traded down $0.12 during mid-day trading on Thursday, hitting $36.09. 85,688 shares of the company’s stock were exchanged, compared to its average volume of 4,472,386. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 1.72 and a beta of 1.47. Citizens Financial Group Inc has a fifty-two week low of $27.62 and a fifty-two week high of $41.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.96. The stock’s 50-day moving average is $34.17 and its 200-day moving average is $34.80.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.88 earnings per share. As a group, equities research analysts anticipate that Citizens Financial Group Inc will post 3.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Tuesday, July 30th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.32. Citizens Financial Group’s dividend payout ratio is currently 40.45%.
In other Citizens Financial Group news, Director Charles John Koch purchased 15,000 shares of Citizens Financial Group stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $32.45 per share, with a total value of $486,750.00. Following the completion of the transaction, the director now owns 68,781 shares of the company’s stock, valued at $2,231,943.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.
A number of research analysts have commented on the stock. Argus raised 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 research report on Monday, July 29th. JPMorgan Chase & Co. decreased 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 research report on Tuesday, July 9th. Citigroup cut shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $40.00 to $35.00 in a research report on Friday, July 12th. Zacks Investment Research cut 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 research report on Friday, July 12th. Finally, UBS Group cut shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $38.00 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $40.42.
About Citizens Financial Group
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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