Citizens Financial Group, Inc. $CFG Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 46.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,394,174 shares of the bank’s stock after selling 1,202,542 shares during the period. Wellington Management Group LLP’s holdings in Citizens Financial Group were worth $97,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in Citizens Financial Group by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock valued at $355,000 after acquiring an additional 172 shares during the last quarter. Clear Harbor Asset Management LLC grew its holdings in shares of Citizens Financial Group by 0.9% during the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock worth $1,150,000 after purchasing an additional 175 shares during the last quarter. MGO One Seven LLC grew its holdings in shares of Citizens Financial Group by 3.7% during the fourth quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock worth $308,000 after purchasing an additional 187 shares during the last quarter. Summit Financial LLC increased its position in shares of Citizens Financial Group by 2.5% during the fourth quarter. Summit Financial LLC now owns 7,719 shares of the bank’s stock worth $451,000 after purchasing an additional 187 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Citizens Financial Group by 16.1% during the fourth quarter. Manchester Capital Management LLC now owns 1,389 shares of the bank’s stock worth $81,000 after purchasing an additional 193 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $68.10 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $28.68 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.62 and a beta of 0.67. The firm’s fifty day moving average price is $71.46 and its 200 day moving average price is $65.69. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. Citizens Financial Group’s quarterly revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group’s payout ratio is 39.91%.

Insider Transactions at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 0.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CFG. Morgan Stanley upped their target price on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Royal Bank Of Canada increased their price objective on Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.25.

About Citizens Financial Group

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.