Opus Investment Management Inc. Buys 30,000 Shares of Citizens Financial Group Inc (CFG)
Opus Investment Management Inc. boosted its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 88.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,000 shares of the bank’s stock after purchasing an additional 30,000 shares during the quarter. Opus Investment Management Inc.’s holdings in Citizens Financial Group were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of CFG. JPMorgan Chase & Co. raised its stake in Citizens Financial Group by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock valued at $655,180,000 after buying an additional 2,189,838 shares during the last quarter. LSV Asset Management raised its stake in Citizens Financial Group by 12.0% in the third quarter. LSV Asset Management now owns 8,411,960 shares of the bank’s stock valued at $324,449,000 after buying an additional 898,835 shares during the last quarter. Northern Trust Corp raised its stake in Citizens Financial Group by 1.7% in the second quarter. Northern Trust Corp now owns 5,730,814 shares of the bank’s stock valued at $222,928,000 after buying an additional 96,971 shares during the last quarter. Bank of Montreal Can raised its stake in Citizens Financial Group by 51.9% in the third quarter. Bank of Montreal Can now owns 5,312,122 shares of the bank’s stock valued at $204,888,000 after buying an additional 1,815,395 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Citizens Financial Group by 30.8% in the second quarter. Janus Henderson Group PLC now owns 4,493,533 shares of the bank’s stock valued at $174,800,000 after buying an additional 1,058,650 shares during the last quarter. 96.79% of the stock is currently owned by institutional investors.
In other news, Director Charles John Koch acquired 14,000 shares of Citizens Financial Group stock in a transaction dated Tuesday, October 23rd. The stock was purchased at an average cost of $36.32 per share, for a total transaction of $508,480.00. Following the completion of the purchase, the director now directly owns 49,937 shares in the company, valued at approximately $1,813,711.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.
Shares of NYSE:CFG opened at $36.21 on Thursday. Citizens Financial Group Inc has a 52-week low of $34.88 and a 52-week high of $48.23. The stock has a market capitalization of $17.60 billion, a PE ratio of 14.03, a PEG ratio of 0.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.00 and a quick ratio of 0.98.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, October 19th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.03. Citizens Financial Group had a return on equity of 8.11% and a net margin of 27.12%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that Citizens Financial Group Inc will post 3.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Tuesday, October 30th. Citizens Financial Group’s payout ratio is 41.86%.
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About Citizens Financial Group
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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