Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Citizens Financial Group Inc. (NYSE:CFG) during the second quarter, Holdings Channel reports. The fund bought 21,359 shares of the company’s stock, valued at approximately $427,000.
Several other hedge funds have also bought and sold shares of CFG. Emerald Acquisition Ltd. acquired a new stake in Citizens Financial Group during the second quarter valued at about $59,043,000. BlackRock Institutional Trust Company N.A. boosted its stake in Citizens Financial Group by 21.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,401,683 shares of the company’s stock valued at $327,706,000 after buying an additional 2,845,134 shares during the last quarter. Bank of Montreal Can acquired a new stake in Citizens Financial Group during the second quarter valued at about $54,724,000. JPMorgan Chase & Co. boosted its stake in Citizens Financial Group by 13.5% in the second quarter. JPMorgan Chase & Co. now owns 21,756,438 shares of the company’s stock valued at $434,694,000 after buying an additional 2,594,312 shares during the last quarter. Finally, RidgeWorth Capital Management LLC acquired a new stake in Citizens Financial Group during the second quarter valued at about $44,291,000. 96.20% of the stock is currently owned by institutional investors.
Shares of Citizens Financial Group Inc. (NYSE:CFG) traded up 0.19% during trading on Friday, reaching $32.46. 1,506,994 shares of the company were exchanged. The company’s 50-day moving average is $27.67 and its 200 day moving average is $23.98. The firm has a market capitalization of $16.82 billion, a PE ratio of 17.64 and a beta of 1.10. Citizens Financial Group Inc. has a 1-year low of $18.04 and a 1-year high of $32.63.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 21st. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. Citizens Financial Group had a net margin of 17.53% and a return on equity of 4.88%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts expect that Citizens Financial Group Inc. will post $1.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 16th. Shareholders of record on Wednesday, November 2nd were paid a $0.12 dividend. The ex-dividend date was Monday, October 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.48%. Citizens Financial Group’s dividend payout ratio is currently 25.95%.
CFG has been the topic of several recent analyst reports. Sanford C. Bernstein cut Citizens Financial Group from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $29.00 to $32.00 in a research note on Wednesday, November 16th. They noted that the move was a valuation call. Wedbush assumed coverage on Citizens Financial Group in a research report on Thursday, October 6th. They set an “outperform” rating and a $29.00 price objective on the stock. Citigroup Inc. cut Citizens Financial Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 15th. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 17th. Finally, Credit Suisse Group AG lifted their price objective on Citizens Financial Group from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, September 8th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $29.21.
About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company in the United States. The Company offers a range of retail and commercial banking products and services to individuals, institutions and companies. The Company operates in two segments: Consumer Banking and Commercial Banking. The Company’s Consumer Banking serves retail customers and small businesses.