Citizens Financial Group, Inc. $CFG Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 7,979.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,165,352 shares of the bank’s stock after acquiring an additional 12,014,785 shares during the period. Citizens Financial Group comprises about 0.9% of Robeco Institutional Asset Management B.V.’s holdings, making the stock its 18th largest holding. Robeco Institutional Asset Management B.V. owned approximately 2.89% of Citizens Financial Group worth $775,663,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. 55 North Private Wealth LLC boosted its holdings in shares of Citizens Financial Group by 4.6% during the third quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock worth $244,000 after purchasing an additional 170 shares during the period. Peoples Financial Services CORP. acquired a new position in Citizens Financial Group in the 3rd quarter valued at approximately $2,287,000. Ballast Inc. increased its stake in Citizens Financial Group by 1,329.3% in the 3rd quarter. Ballast Inc. now owns 65,746 shares of the bank’s stock valued at $4,192,000 after buying an additional 61,146 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Citizens Financial Group by 1,410.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 890,438 shares of the bank’s stock valued at $56,774,000 after buying an additional 831,484 shares during the period. Finally, Jeppson Wealth Management LLC purchased a new stake in Citizens Financial Group in the 3rd quarter worth approximately $2,478,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the company’s stock in a transaction that occurred on 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 owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen started coverage on shares of Citizens Financial Group in a research note on Thursday, October 8th. They set a “buy” rating and a $75.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Royal Bank Of Canada dropped their price target on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday. DA Davidson set a $82.00 price target on shares of Citizens Financial Group in a research note on Monday. Finally, Jefferies Financial Group increased their price objective on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.47.

Citizens Financial Group Trading Up 2.4%

Shares of NYSE CFG opened at $64.25 on Wednesday. The stock has a market cap of $27.06 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.57 and a beta of 0.72. The business has a 50 day simple moving average of $67.66 and a 200 day simple moving average of $67.16. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same quarter last year, the firm earned $1.05 earnings per share. On average, research analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.52 dividend. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. This represents a $2.08 annualized dividend and a yield of 3.2%. Citizens Financial Group’s dividend payout ratio is presently 41.85%.

Citizens Financial Group Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.