Assenagon Asset Management S.A. Boosts Stock Position in Citizens Financial Group, Inc. $CFG

Assenagon Asset Management S.A. boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 11.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 666,166 shares of the bank’s stock after purchasing an additional 67,379 shares during the period. Assenagon Asset Management S.A.’s holdings in Citizens Financial Group were worth $38,911,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Channing Capital Management LLC bought a new stake in Citizens Financial Group during the third quarter valued at about $7,528,000. Envestnet Asset Management Inc. boosted its stake in shares of Citizens Financial Group by 25.7% in the third quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank’s stock worth $36,553,000 after acquiring an additional 140,641 shares during the period. National Pension Service boosted its stake in shares of Citizens Financial Group by 33.5% in the third quarter. National Pension Service now owns 135,208 shares of the bank’s stock worth $7,188,000 after acquiring an additional 33,923 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Citizens Financial Group by 37.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock worth $25,284,000 after purchasing an additional 129,995 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in Citizens Financial Group during the 3rd quarter valued at approximately $60,434,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $59.41 on Thursday. The firm has a market cap of $25.25 billion, a PE ratio of 15.35, a PEG ratio of 0.48 and a beta of 0.70. The stock has a 50 day moving average of $61.90 and a 200 day moving average of $56.95. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $68.79.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. On average, research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.1%. The ex-dividend date was Wednesday, February 4th. Citizens Financial Group’s payout ratio is currently 47.55%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CFG. Argus boosted their price target on Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. increased their price objective on shares of Citizens Financial Group from $62.50 to $71.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Barclays set a $77.00 target price on shares of Citizens Financial Group and gave the stock an “overweight” rating in a report on Monday, January 5th. The Goldman Sachs Group restated a “buy” rating and set a $73.00 target price on shares of Citizens Financial Group in a research report on Tuesday, January 6th. Finally, Robert W. Baird raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Monday, March 9th. Twenty analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.59.

Insider Transactions at Citizens Financial Group

In related news, insider Susan Lamonica sold 13,258 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the sale, the insider owned 165,971 shares of the company’s stock, valued at $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by insiders.

Citizens Financial Group Company 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.