Citizens Financial Group, Inc. $CFG Position Trimmed by Ninety One UK Ltd

Ninety One UK Ltd decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 22.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,123,720 shares of the bank’s stock after selling 1,727,737 shares during the quarter. Ninety One UK Ltd’s holdings in Citizens Financial Group were worth $390,448,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Citizens Financial Group during the second quarter valued at about $3,415,046,000. Bank of America Corp DE acquired a new position in shares of Citizens Financial Group in the second quarter worth about $223,386,000. Legal & General Group Plc acquired a new position in shares of Citizens Financial Group in the second quarter worth about $207,234,000. Nykredit A S purchased a new position in shares of Citizens Financial Group in the second quarter worth approximately $188,380,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Citizens Financial Group in the second quarter worth approximately $175,948,000. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CFG shares. Royal Bank Of Canada boosted their price target on shares of Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Truist Financial decreased their price objective on shares of Citizens Financial Group from $80.00 to $77.00 and set a “hold” rating for the company in a research note on Wednesday, September 23rd. Argus set a $80.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, July 29th. Stephens lifted their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Morgan Stanley cut their target price on shares of Citizens Financial Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.08.

Insider Activity at Citizens Financial Group

In related news, CEO Bruce Van Saun sold 129,369 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Citizens Financial Group Stock Up 2.1%

NYSE:CFG traded up $1.29 on Thursday, hitting $63.86. 1,442,338 shares of the company’s stock traded hands, compared to its average volume of 4,579,596. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33. The firm has a 50-day moving average price of $68.40 and a 200-day moving average price of $67.03. The company has a market cap of $26.89 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Equities analysts anticipate that Citizens Financial Group, Inc. will post 5.29 EPS for the current fiscal year.

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 individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.