iA Global Asset Management Inc. Has $2.53 Million Stock Position in Citizens Financial Group, Inc. $CFG

iA Global Asset Management Inc. lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 35.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,316 shares of the bank’s stock after acquiring an additional 11,405 shares during the period. iA Global Asset Management Inc.’s holdings in Citizens Financial Group were worth $2,530,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CFG. Channing Capital Management LLC acquired a new stake in Citizens Financial Group during the 3rd quarter valued at $7,528,000. Envestnet Asset Management Inc. boosted 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 worth $36,553,000 after buying an additional 140,641 shares during the period. National Pension Service grew its holdings in shares of Citizens Financial Group by 33.5% during the third quarter. National Pension Service now owns 135,208 shares of the bank’s stock valued at $7,188,000 after buying an additional 33,923 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Citizens Financial Group by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank’s stock valued at $29,968,000 after buying an additional 25,180 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in Citizens Financial Group during the fourth quarter valued at $2,412,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.5%

Citizens Financial Group stock opened at $61.15 on Tuesday. The company’s fifty day simple moving average is $61.44 and its 200-day simple moving average is $59.77. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. Citizens Financial Group, Inc. has a 12 month low of $38.80 and a 12 month high of $68.79. The stock has a market cap of $25.86 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.48 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company posted $0.77 EPS. Citizens Financial Group’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.19 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group’s payout ratio is currently 43.50%.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider directly owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $769,494.32. Following the transaction, the insider owned 165,971 shares in the company, valued at approximately $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Cowen increased their price objective on Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their target price on Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. upped their target price on Citizens Financial Group from $68.00 to $68.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. New Street Research set a $73.00 price target on shares of Citizens Financial Group in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $75.00 price target on shares of Citizens Financial Group in a report on Tuesday, March 3rd. Nineteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $70.88.

Citizens Financial Group Company Profile

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.