Perpetual Ltd Sells 9,114 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Perpetual Ltd lowered its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 52.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,158 shares of the bank’s stock after selling 9,114 shares during the quarter. Perpetual Ltd’s holdings in Citizens Financial Group were worth $335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Citizens Financial Group by 35.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank’s stock valued at $2,838,000 after purchasing an additional 20,649 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Citizens Financial Group by 101.6% in the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock worth $27,641,000 after acquiring an additional 383,947 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Citizens Financial Group in the first quarter worth about $1,180,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Citizens Financial Group in the fourth quarter worth about $5,965,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of Citizens Financial Group in the first quarter worth about $930,000. Institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

CFG has been the subject of several recent analyst reports. Jefferies Financial Group increased their price target on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. StockNews.com cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Piper Sandler upped their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Raymond James initiated coverage on Citizens Financial Group in a research report on Thursday, July 11th. They set a “market perform” rating for the company. Finally, UBS Group upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.07.

Citizens Financial Group Price Performance

NYSE:CFG opened at $42.61 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $40.95 and its two-hundred day moving average price is $37.83. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.42 and a beta of 1.07. Citizens Financial Group, Inc. has a 12-month low of $22.77 and a 12-month high of $43.96.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. Citizens Financial Group’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. On average, analysts anticipate that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 3.94%. Citizens Financial Group’s dividend payout ratio is 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now owns 33,620 shares in the company, valued at approximately $1,454,401.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.