MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes $1.04 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 28,577 shares of the bank’s stock, valued at approximately $1,037,000.

Several other hedge funds have also recently modified their holdings of CFG. Larson Financial Group LLC acquired a new stake in Citizens Financial Group in the fourth quarter valued at $33,000. Quarry LP lifted its holdings in Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after acquiring an additional 714 shares during the period. CVA Family Office LLC acquired a new stake in Citizens Financial Group in the fourth quarter valued at $40,000. Blue Trust Inc. lifted its holdings in Citizens Financial Group by 77.6% in the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after acquiring an additional 574 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Citizens Financial Group by 40.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock valued at $54,000 after acquiring an additional 472 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Trading Up 1.5 %

NYSE CFG opened at $36.38 on Wednesday. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $37.30. The company has a 50-day moving average of $35.18 and a 200-day moving average of $33.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $16.55 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.40 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the company earned $1.00 EPS. The company’s revenue was down 7.9% compared to the same quarter last year. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 3.16 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Insider Activity

In other news, insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares of the company’s stock, valued at approximately $1,265,704.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CFG. Argus raised their target price on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $38.00 price target on shares of Citizens Financial Group in a research note on Wednesday, June 12th. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $41.00 in a research note on Friday, April 26th. Finally, Jefferies Financial Group lifted their price target on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.67.

About Citizens Financial Group

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.