Mirae Asset Global Investments Co. Ltd. Sells 37,595 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Mirae Asset Global Investments Co. Ltd. trimmed its position in Citizens Financial Group, Inc. (NYSE:CFG) by 36.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 66,111 shares of the bank’s stock after selling 37,595 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Citizens Financial Group were worth $2,399,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CFG. Larson Financial Group LLC bought a new position in shares of Citizens Financial Group in the 4th quarter valued at $33,000. Quarry LP raised its position in Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares during the last quarter. CVA Family Office LLC bought a new position in Citizens Financial Group during the 4th quarter worth $40,000. Blue Trust Inc. raised its position in Citizens Financial Group by 77.6% during the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after purchasing an additional 574 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Citizens Financial Group by 40.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock worth $54,000 after purchasing an additional 472 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Insider Activity at Citizens Financial Group

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

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $38.23 on Friday. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $38.37. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50-day simple moving average is $35.45 and its 200 day simple moving average is $34.02.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the business posted $1.00 EPS. Citizens Financial Group’s revenue was down 7.9% compared to the same quarter last year. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a $0.42 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.39%. Citizens Financial Group’s payout ratio is 60.87%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CFG. Evercore ISI raised their target price on Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Argus raised their target price on Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Citigroup increased their price target on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and set a $38.00 price target on shares of Citizens Financial Group in a report on Wednesday, June 12th. Finally, Piper Sandler upgraded Citizens Financial Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $41.00 in a report on Friday, April 26th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.80.

Citizens Financial Group 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.