Montchanin Asset Management LLC Acquires Shares of 10,000 Citizens Financial Group, Inc. $CFG

Montchanin Asset Management LLC bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 1st quarter, HoldingsChannel.com reports. The fund bought 10,000 shares of the bank’s stock, valued at approximately $600,000. Citizens Financial Group makes up approximately 0.6% of Montchanin Asset Management LLC’s holdings, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in 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 worth $29,968,000 after buying an additional 25,180 shares during the last quarter. Geode Capital Management LLC boosted its stake in Citizens Financial Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after acquiring an additional 32,264 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Citizens Financial Group by 45.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock valued at $15,799,000 after acquiring an additional 85,052 shares during the last quarter. Todd Asset Management LLC grew its position in shares of Citizens Financial Group by 10.6% during the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock valued at $57,914,000 after acquiring an additional 94,774 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Citizens Financial Group by 51.8% during the 4th quarter. HighTower Advisors LLC now owns 58,648 shares of the bank’s stock valued at $3,426,000 after acquiring an additional 20,008 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $376,068.00. Following the sale, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Price Performance

CFG opened at $71.78 on Friday. The firm has a 50-day moving average price of $68.44 and a 200-day moving average price of $64.42. Citizens Financial Group, Inc. has a twelve month low of $45.90 and a twelve month high of $74.70. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $30.36 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.55 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. Citizens Financial Group’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. Equities analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Citizens Financial Group’s payout ratio is presently 39.91%.

Analysts Set New Price Targets

CFG has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Royal Bank Of Canada upped their price objective on Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Morgan Stanley increased their price objective on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, June 29th. JPMorgan Chase & Co. raised their target price on Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, UBS Group boosted their target price on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.05.

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.