BTG Pactual Asset Management US LLC Sells 8,676 Shares of Citizens Financial Group, Inc. $CFG

BTG Pactual Asset Management US LLC decreased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 18.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 38,469 shares of the bank’s stock after selling 8,676 shares during the period. BTG Pactual Asset Management US LLC’s holdings in Citizens Financial Group were worth $2,696,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. boosted its stake in Citizens Financial Group by 45.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock valued at $15,799,000 after buying an additional 85,052 shares during the period. Geode Capital Management LLC increased its stake in Citizens Financial Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock worth $661,052,000 after acquiring an additional 32,264 shares during the last quarter. Todd Asset Management LLC increased its stake in Citizens Financial Group by 10.6% in the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock worth $57,914,000 after acquiring an additional 94,774 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Citizens Financial Group by 51.8% in 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 in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Citizens Financial Group by 20.7% during the 4th quarter. Systematic Financial Management LP now owns 100,617 shares of the bank’s stock valued at $5,877,000 after acquiring an additional 17,225 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CFG. Robert W. Baird boosted their price objective on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Argus set a $80.00 target price on shares of Citizens Financial Group in a research report on Wednesday, July 29th. Truist Financial boosted their price target on shares of Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald increased their price target on shares of Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.25.

Insiders Place Their Bets

In related news, CEO Saun Bruce Van sold 129,369 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the sale, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.67% of the stock is owned by corporate insiders.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $69.76 on Monday. The stock has a market cap of $29.38 billion, a PE ratio of 15.13, a PEG ratio of 0.53 and a beta of 0.67. The company’s fifty day moving average is $71.46 and its 200 day moving average is $65.67. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts anticipate that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s payout ratio is 39.91%.

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.