Quadrature Capital Ltd Sells 13,494 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Quadrature Capital Ltd decreased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 14.5% in the fourth quarter, HoldingsChannel reports. The fund owned 79,694 shares of the bank’s stock after selling 13,494 shares during the quarter. Quadrature Capital Ltd’s holdings in Citizens Financial Group were worth $2,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CFG. Wellington Management Group LLP grew its position in shares of Citizens Financial Group by 217.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after acquiring an additional 5,465,824 shares during the period. Norges Bank bought a new stake in shares of Citizens Financial Group during the 4th quarter valued at $117,372,000. AQR Capital Management LLC grew its position in shares of Citizens Financial Group by 1,213.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,746,064 shares of the bank’s stock valued at $100,395,000 after acquiring an additional 3,460,792 shares during the period. Hsbc Holdings PLC grew its position in shares of Citizens Financial Group by 96.3% during the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock valued at $81,932,000 after acquiring an additional 1,212,642 shares during the period. Finally, Capital International Investors boosted its holdings in Citizens Financial Group by 3.5% in the 4th quarter. Capital International Investors now owns 35,157,079 shares of the bank’s stock worth $1,165,106,000 after buying an additional 1,199,158 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.3 %

NYSE CFG traded up $0.09 on Friday, hitting $34.15. 3,702,293 shares of the stock were exchanged, compared to its average volume of 3,825,847. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $37.30. The firm has a market capitalization of $15.54 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.33 and a beta of 1.10. The stock has a fifty day moving average price of $34.91 and a two-hundred day moving average price of $33.08.

Citizens Financial Group (NYSE:CFG) 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 return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. Citizens Financial Group’s revenue for the quarter was down 7.9% on a year-over-year basis. Research analysts forecast that Citizens Financial Group, Inc. will post 3.15 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Wall Street Analyst Weigh In

CFG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective on 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. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Sunday, May 5th. Citigroup boosted their target price on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Argus raised their target price 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. Finally, Piper Sandler upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $35.00 to $41.00 in a research note on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.73.

Insider Activity at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of the business’s 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 of the company’s stock, valued at $1,265,704.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is owned by company insiders.

Citizens Financial Group 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.