Y Intercept Hong Kong Ltd Makes New Investment in Citizens Financial Group, Inc. $CFG

Y Intercept Hong Kong Ltd purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 51,913 shares of the bank’s stock, valued at approximately $3,113,000.

Other large investors have also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of Citizens Financial Group by 1.7% in the 3rd quarter. Capital World Investors now owns 37,289,711 shares of the bank’s stock valued at $1,982,532,000 after purchasing an additional 614,181 shares in the last quarter. Invesco Ltd. increased its holdings in Citizens Financial Group by 1.7% in the third quarter. Invesco Ltd. now owns 24,064,513 shares of the bank’s stock valued at $1,279,270,000 after buying an additional 393,158 shares during the last quarter. Geode Capital Management LLC increased its holdings in Citizens Financial Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after buying an additional 32,264 shares during the last quarter. Morgan Stanley raised its stake in Citizens Financial Group by 2.7% in the fourth quarter. Morgan Stanley now owns 11,217,975 shares of the bank’s stock valued at $655,242,000 after buying an additional 298,779 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Citizens Financial Group by 32.3% during the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock worth $467,389,000 after buying an additional 1,953,372 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG traded down $0.25 during midday trading on Tuesday, reaching $71.86. The stock had a trading volume of 1,480,690 shares, compared to its average volume of 4,911,799. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The stock has a market cap of $30.39 billion, a P/E ratio of 16.99, a P/E/G ratio of 0.56 and a beta of 0.67. The firm has a fifty day simple moving average of $65.26 and a two-hundred day simple moving average of $62.88. Citizens Financial Group, Inc. has a 12-month low of $45.90 and a 12-month high of $72.94.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business earned $0.77 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid 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 43.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CFG shares. Weiss Ratings upgraded Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Stephens assumed coverage on shares of Citizens Financial Group in a research note on Monday, June 15th. They issued an “equal weight” rating on the stock. Citigroup cut shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada upped their target price on shares of Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.35.

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction 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 transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.67% of the stock is owned by company insiders.

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.