New York State Teachers Retirement System Cuts Position in Citizens Financial Group, Inc. (NYSE:CFG)

New York State Teachers Retirement System cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 450,449 shares of the bank’s stock after selling 34,428 shares during the quarter. New York State Teachers Retirement System owned 0.10% of Citizens Financial Group worth $16,230,000 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 the company. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Citizens Financial Group by 3.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank’s stock valued at $292,000 after purchasing an additional 305 shares during the period. Czech National Bank raised its holdings in shares of Citizens Financial Group by 0.5% during the first quarter. Czech National Bank now owns 82,032 shares of the bank’s stock valued at $2,977,000 after acquiring an additional 375 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in Citizens Financial Group by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 96,350 shares of the bank’s stock valued at $3,497,000 after acquiring an additional 382 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of Citizens Financial Group by 3.6% in the 1st quarter. Bleakley Financial Group LLC now owns 11,027 shares of the bank’s stock worth $400,000 after acquiring an additional 385 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Citizens Financial Group by 1.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock valued at $707,000 after purchasing an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CFG. Piper Sandler lifted their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 5th. Morgan Stanley lifted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Raymond James began coverage on Citizens Financial Group in a report on Thursday, July 11th. They set a “market perform” rating for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.20.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group Trading Up 3.3 %

Shares of CFG traded up $1.38 during trading hours on Friday, hitting $42.76. The company had a trading volume of 3,409,885 shares, compared to its average volume of 5,420,318. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $43.96. The stock’s 50 day moving average price is $38.63 and its 200 day moving average price is $35.62. The firm has a market cap of $19.46 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company posted $0.92 EPS. Citizens Financial Group’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.93%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

About Citizens Financial Group

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.