Dai ichi Life Insurance Company Ltd Sells 8,088 Shares of Citizens Financial Group, Inc. $CFG

Dai ichi Life Insurance Company Ltd reduced its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 46.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,330 shares of the bank’s stock after selling 8,088 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Citizens Financial Group were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFG. University of Texas Texas AM Investment Management Co. purchased a new stake in Citizens Financial Group during the 4th quarter valued at about $26,000. Cedar Mountain Advisors LLC purchased a new position in Citizens Financial Group in the 1st quarter worth approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Citizens Financial Group during the 4th quarter valued at $29,000. Activest Wealth Management raised its stake in shares of Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after acquiring an additional 504 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in Citizens Financial Group in the 4th quarter worth approximately $35,000. 94.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CFG shares. Citigroup lifted their price target on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Stephens boosted 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 note on Friday, July 17th. Truist Financial upped their price objective on shares of Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Morgan Stanley raised their target price on shares of Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Robert W. Baird lifted their target price on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.55.

Citizens Financial Group Stock Down 1.0%

NYSE:CFG opened at $71.14 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $30.08 billion, a P/E ratio of 15.43, a P/E/G ratio of 0.55 and a beta of 0.67. Citizens Financial Group, Inc. has a fifty-two week low of $45.90 and a fifty-two week high of $74.70. The firm has a 50-day simple moving average of $67.68 and a two-hundred day simple moving average of $64.13.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Analysts predict that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, July 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, July 30th. Citizens Financial Group’s payout ratio is presently 39.91%.

Insider Transactions at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the company’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 value of $376,068.00. Following the transaction, the insider directly owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

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.