My Legacy Advisors LLC Sells 4,480 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

by · The Cerbat Gem

My Legacy Advisors LLC trimmed its holdings in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 16.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,581 shares of the bank’s stock after selling 4,480 shares during the quarter. My Legacy Advisors LLC’s holdings in Citizens Financial Group were worth $927,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital International Investors raised its holdings in shares of Citizens Financial Group by 4.4% in the 1st quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after purchasing an additional 1,552,333 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Citizens Financial Group by 1.8% during the second quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock worth $237,106,000 after purchasing an additional 113,300 shares during the period. Dimensional Fund Advisors LP lifted its position in Citizens Financial Group by 15.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after purchasing an additional 587,115 shares during the period. AQR Capital Management LLC boosted its stake in shares of Citizens Financial Group by 61.4% in the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after buying an additional 1,682,886 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Citizens Financial Group by 15.3% in the 1st quarter. Nordea Investment Management AB now owns 3,625,128 shares of the bank’s stock valued at $130,722,000 after purchasing an additional 480,129 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Activity

In related news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is currently owned by insiders.

Citizens Financial Group Stock Up 1.0 %

CFG stock traded up $0.43 during midday trading on Tuesday, reaching $41.49. The company had a trading volume of 2,857,791 shares, compared to its average volume of 5,381,209. The company has a market capitalization of $18.88 billion, a P/E ratio of 14.88, a PEG ratio of 1.42 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $44.39. The company has a 50 day moving average of $41.36 and a two-hundred day moving average of $38.14.

Citizens Financial Group (NYSE:CFG – Get Free Report) last released its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Wall Street Analyst Weigh In

CFG has been the subject of a number of recent analyst reports. Raymond James assumed coverage on Citizens Financial Group in a research report on Thursday, July 11th. They issued a “market perform” rating for the company. DA Davidson upped their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler increased their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their target price on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley increased their price target on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.80.

View Our Latest Research Report on Citizens Financial Group

About Citizens Financial Group

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG – Free Report).