Brevan Howard Capital Management LP Boosts Stake in Citizens Financial Group, Inc. $CFG

Brevan Howard Capital Management LP raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 179.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,119 shares of the bank’s stock after buying an additional 48,852 shares during the period. Brevan Howard Capital Management LP’s holdings in Citizens Financial Group were worth $4,046,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Citizens Financial Group by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock valued at $2,306,817,000 after acquiring an additional 209,467 shares during the period. Capital World Investors boosted its stake in shares of Citizens Financial Group by 1.7% during the third quarter. Capital World Investors now owns 37,289,711 shares of the bank’s stock valued at $1,982,532,000 after purchasing an additional 614,181 shares during the period. Invesco Ltd. grew its holdings in shares of Citizens Financial Group by 1.7% in the third quarter. Invesco Ltd. now owns 24,064,513 shares of the bank’s stock worth $1,279,270,000 after purchasing an additional 393,158 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Citizens Financial Group by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 6,715,372 shares of the bank’s stock valued at $353,430,000 after buying an additional 315,467 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in Citizens Financial Group by 14.5% during the 2nd quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock valued at $293,685,000 after buying an additional 833,399 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 2.4%

NYSE CFG opened at $55.59 on Monday. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $68.79. The company has a 50 day moving average price of $62.41 and a 200 day moving average price of $56.67. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. The firm has a market cap of $23.63 billion, a PE 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 issued its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.11 by $0.02. The firm had revenue of $2.16 billion during 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%.The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 47.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Cowen raised 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. The Goldman Sachs Group restated a “buy” rating and set a $73.00 price objective on shares of Citizens Financial Group in a report on Tuesday, January 6th. Weiss Ratings upgraded Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Argus increased their price target on Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley lifted their price objective on Citizens Financial Group from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Twenty research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.95.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the company’s stock in a transaction that occurred 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.

Citizens Financial Group 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.