APG Asset Management N.V. Trims Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

APG Asset Management N.V. reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,661,740 shares of the bank’s stock after selling 83,433 shares during the quarter. APG Asset Management N.V. owned approximately 0.80% of Citizens Financial Group worth $123,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CFG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Citizens Financial Group by 35.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank’s stock valued at $2,838,000 after purchasing an additional 20,649 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Citizens Financial Group by 101.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock valued at $27,641,000 after purchasing an additional 383,947 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of Citizens Financial Group in the 1st quarter valued at approximately $1,180,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth approximately $5,965,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Citizens Financial Group during the 1st quarter valued at approximately $930,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.62% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on CFG shares. DA Davidson increased their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley increased their price target on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Evercore ISI boosted their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Piper Sandler increased their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.20.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $40.24 on Thursday. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week high of $43.96. The company has a fifty day simple moving average of $41.20 and a two-hundred day simple moving average of $37.26. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The company has a market cap of $18.04 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. Citizens Financial Group’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.42 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 4.18%. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

Citizens Financial Group Company Profile

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.