Citizens Financial Group Inc (CFG) Shares Sold by Meeder Asset Management Inc.
Meeder Asset Management Inc. lowered its stake in Citizens Financial Group Inc (NYSE:CFG) by 21.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,613 shares of the bank’s stock after selling 7,114 shares during the quarter. Meeder Asset Management Inc.’s holdings in Citizens Financial Group were worth $1,075,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in Citizens Financial Group in the 4th quarter valued at $131,000. Lipe & Dalton purchased a new position in Citizens Financial Group in the 3rd quarter valued at $207,000. Colony Group LLC purchased a new position in Citizens Financial Group in the 2nd quarter valued at $210,000. Commerzbank Aktiengesellschaft FI purchased a new position in Citizens Financial Group in the 4th quarter valued at $216,000. Finally, Quotient Investors LLC purchased a new position in Citizens Financial Group in the 3rd quarter valued at $227,000. 98.38% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Wendy A. Watson sold 4,000 shares of Citizens Financial Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.31, for a total transaction of $161,240.00. Following the transaction, the director now owns 12,917 shares in the company, valued at approximately $520,684.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 19th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. Citizens Financial Group had a return on equity of 6.73% and a net margin of 25.60%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. research analysts expect that Citizens Financial Group Inc will post 3.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, January 31st. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.18. Citizens Financial Group’s payout ratio is currently 26.91%.
A number of brokerages have weighed in on CFG. Sanford C. Bernstein set a $52.00 price objective on Citizens Financial Group and gave the company a “buy” rating in a report on Monday, January 22nd. TheStreet upgraded Citizens Financial Group from a “c” rating to an “a+” rating in a report on Monday, November 27th. Royal Bank of Canada restated a “hold” rating and issued a $45.00 price objective on shares of Citizens Financial Group in a report on Sunday, January 21st. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, December 4th. Finally, Barclays raised their price objective on Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $42.36.
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Citizens Financial Group Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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