Shell Asset Management Co. Sells 13,419 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Shell Asset Management Co. trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFGFree Report) by 21.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,399 shares of the bank’s stock after selling 13,419 shares during the quarter. Shell Asset Management Co.’s holdings in Citizens Financial Group were worth $1,637,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Scout Investments Inc. lifted its holdings in Citizens Financial Group by 34.5% during the 4th quarter. Scout Investments Inc. now owns 1,554,485 shares of the bank’s stock valued at $51,516,000 after buying an additional 399,120 shares in the last quarter. Cibc World Markets Corp boosted its holdings in shares of Citizens Financial Group by 42.8% in the fourth quarter. Cibc World Markets Corp now owns 108,302 shares of the bank’s stock valued at $3,589,000 after purchasing an additional 32,448 shares during the period. Morningstar Investment Management LLC bought a new position in Citizens Financial Group in the fourth quarter worth approximately $2,113,000. Tower Research Capital LLC TRC grew its stake in Citizens Financial Group by 155.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 65,511 shares of the bank’s stock worth $2,171,000 after purchasing an additional 39,831 shares in the last quarter. Finally, Capital International Investors increased its holdings in Citizens Financial Group by 3.5% during the 4th quarter. Capital International Investors now owns 35,157,079 shares of the bank’s stock worth $1,165,106,000 after purchasing an additional 1,199,158 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction on Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the sale, the insider now directly owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CFG has been the subject of several research reports. Citigroup upped their target price on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. cut their target price on shares of Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI boosted their price target on shares of Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, Argus increased their price objective on shares of Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and an average target price of $37.73.

Read Our Latest Research Report on CFG

Citizens Financial Group Stock Performance

Shares of CFG opened at $34.39 on Tuesday. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $37.30. The stock has a fifty day moving average price of $34.89 and a 200-day moving average price of $33.18. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a market cap of $15.65 billion, a PE ratio of 12.46, a P/E/G ratio of 1.33 and a beta of 1.10.

Citizens Financial Group (NYSE:CFGGet Free Report) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. Equities research analysts predict that Citizens Financial Group, Inc. will post 3.15 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Citizens Financial Group Company Profile

(Free Report)

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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