Brown Brothers Harriman & Co. Purchases 9,315 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Brown Brothers Harriman & Co. lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1,015.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,232 shares of the bank’s stock after buying an additional 9,315 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Citizens Financial Group were worth $369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Citizens Financial Group by 35.9% during 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 acquiring an additional 20,649 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Citizens Financial Group by 101.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock worth $27,641,000 after buying an additional 383,947 shares during the period. Hsbc Holdings PLC grew its position in shares of Citizens Financial Group by 96.3% in the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock valued at $81,932,000 after buying an additional 1,212,642 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of Citizens Financial Group in the first quarter valued at about $1,180,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Citizens Financial Group during the fourth quarter worth about $5,965,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Activity

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $40.54 on Wednesday. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.96. 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 business has a 50 day moving average price of $40.90 and a 200-day moving average price of $36.98. The company has a market cap of $18.45 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share. Equities analysts anticipate that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.14%. Citizens Financial Group’s payout ratio is presently 60.87%.

Wall Street Analyst Weigh In

Several analysts recently commented on CFG shares. Jefferies Financial Group upped their target price on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Piper Sandler increased their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. DA Davidson boosted their target price on shares of Citizens Financial Group from $41.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Royal Bank of Canada lifted their target price on Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Morgan Stanley increased their price target on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.20.

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.