Strs Ohio Sells 100,915 Shares of Citizens Financial Group, Inc. $CFG

Strs Ohio lessened its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 22.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 347,367 shares of the bank’s stock after selling 100,915 shares during the quarter. Strs Ohio’s holdings in Citizens Financial Group were worth $20,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its position in shares of Citizens Financial Group by 96.6% during the first quarter. Root Financial Partners LLC now owns 2,808 shares of the bank’s stock worth $168,000 after purchasing an additional 1,380 shares during the period. USS Investment Management Ltd grew its position in shares of Citizens Financial Group by 5.6% in the 1st quarter. USS Investment Management Ltd now owns 54,006 shares of the bank’s stock valued at $3,238,000 after purchasing an additional 2,848 shares during the period. IFM Investors Pty Ltd increased its stake in Citizens Financial Group by 2.8% during the 1st quarter. IFM Investors Pty Ltd now owns 101,893 shares of the bank’s stock worth $6,111,000 after purchasing an additional 2,804 shares in the last quarter. Severin Investments LLC acquired a new stake in Citizens Financial Group during the 1st quarter worth approximately $401,000. Finally, iA Global Asset Management Inc. raised its holdings in Citizens Financial Group by 6.0% during the 1st quarter. iA Global Asset Management Inc. now owns 45,904 shares of the bank’s stock worth $2,753,000 after buying an additional 2,588 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CFG shares. Robert W. Baird upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Monday, March 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Citizens Financial Group in a research report on Tuesday, June 9th. Citigroup upped 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 note on Tuesday, June 23rd. Stephens started coverage on Citizens Financial Group in a report on Monday, June 15th. They set an “equal weight” rating for the company. Finally, DA Davidson lifted their price target on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Eighteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.38.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $70.97 on Friday. Citizens Financial Group, Inc. has a 12 month low of $45.90 and a 12 month high of $72.46. The company’s fifty day simple moving average is $65.12 and its 200-day simple moving average is $62.76. The firm has a market cap of $30.01 billion, a PE ratio of 16.78, a P/E/G ratio of 0.56 and a beta of 0.67. 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 (NYSE:CFG) last released its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts expect that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.46 dividend. The ex-dividend date was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 43.50%.

Insider Activity

In related news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction dated Tuesday, May 12th. The stock was 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 of the company’s stock, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company’s stock.

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.