Cinctive Capital Management LP Sells 294,682 Shares of Citizens Financial Group, Inc. $CFG

Cinctive Capital Management LP cut its position in Citizens Financial Group, Inc. (NYSE:CFG) by 55.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 239,568 shares of the bank’s stock after selling 294,682 shares during the quarter. Cinctive Capital Management LP’s holdings in Citizens Financial Group were worth $12,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of CFG. Envestnet Asset Management Inc. grew its position in shares of Citizens Financial Group by 25.7% in the third quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank’s stock valued at $36,553,000 after purchasing an additional 140,641 shares during the last quarter. Channing Capital Management LLC acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth about $7,528,000. National Pension Service lifted its position in shares of Citizens Financial Group by 33.5% during the 3rd quarter. National Pension Service now owns 135,208 shares of the bank’s stock worth $7,188,000 after purchasing an additional 33,923 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Citizens Financial Group by 37.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock valued at $25,284,000 after purchasing an additional 129,995 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in Citizens Financial Group during the 3rd quarter valued at approximately $60,434,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 2.4%

Citizens Financial Group stock opened at $55.59 on Friday. The business has a 50 day moving average price of $62.41 and a two-hundred day moving average price of $56.64. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $68.79. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 0.45 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.02. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.Citizens Financial Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.46 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 3.3%. Citizens Financial Group’s payout ratio is currently 47.55%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the sale, the insider owned 165,971 shares of the company’s stock, valued at $9,632,956.84. The trade was a 7.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Citizens Financial Group from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Robert W. Baird raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Monday, March 9th. Argus raised their price objective on shares of Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. TD Cowen boosted their target price on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada upped their target price on shares of Citizens Financial Group from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Twenty investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.95.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.