Citizens Financial Group, Inc. $CFG Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 12.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 239,343 shares of the bank’s stock after selling 33,273 shares during the period. Pictet Asset Management Holding SA’s holdings in Citizens Financial Group were worth $14,353,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CFG. University of Texas Texas AM Investment Management Co. acquired a new stake in Citizens Financial Group in the 4th quarter valued at approximately $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Citizens Financial Group during the fourth quarter worth $29,000. Activest Wealth Management lifted its stake in Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after purchasing an additional 504 shares in the last quarter. DV Equities LLC purchased a new position in shares of Citizens Financial Group during the fourth quarter worth $35,000. Finally, State of Wyoming purchased a new position in shares of Citizens Financial Group during the second quarter worth $39,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $70.97 on Friday. The firm has a market capitalization of $30.01 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 0.57 and a beta of 0.67. The business’s fifty day moving average price is $65.00 and its 200 day moving average price is $62.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a 12 month low of $45.90 and a 12 month high of $72.46.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.Citizens Financial Group’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 5.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

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

Insiders Place Their Bets

In related news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CFG shares. Truist Financial boosted their price objective on Citizens Financial Group from $69.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Citizens Financial Group in a report on Tuesday, June 9th. Robert W. Baird raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Monday, March 9th. Evercore reiterated an “outperform” rating and set a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Finally, DA Davidson increased their price target on shares of Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research report 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 stock. According to data from MarketBeat, Citizens Financial Group has an average rating of “Moderate Buy” and an average target price of $72.38.

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.