Texas Permanent School Fund decreased its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,176 shares of the bank’s stock after selling 3,834 shares during the period. Texas Permanent School Fund’s holdings in Citizens Financial Group were worth $1,897,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Invesco Ltd. boosted its position in Citizens Financial Group by 10.3% in the first quarter. Invesco Ltd. now owns 21,953,796 shares of the bank’s stock worth $412,952,000 after purchasing an additional 2,058,095 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Citizens Financial Group by 10.3% in the first quarter. JPMorgan Chase & Co. now owns 15,375,051 shares of the bank’s stock worth $289,204,000 after purchasing an additional 1,432,078 shares during the last quarter. AQR Capital Management LLC boosted its position in Citizens Financial Group by 4.0% in the first quarter. AQR Capital Management LLC now owns 5,020,189 shares of the bank’s stock worth $94,429,000 after purchasing an additional 194,822 shares during the last quarter. Eminence Capital LP boosted its position in Citizens Financial Group by 29.7% in the first quarter. Eminence Capital LP now owns 4,770,679 shares of the bank’s stock worth $89,736,000 after purchasing an additional 1,091,892 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Citizens Financial Group by 17.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,416,186 shares of the bank’s stock worth $64,259,000 after purchasing an additional 513,395 shares during the last quarter. 93.49% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on CFG. Bank of America upped their price target on Citizens Financial Group from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 20th. ValuEngine cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Wolfe Research began coverage on Citizens Financial Group in a research report on Friday, July 31st. They set an “underperform” rating on the stock. Wedbush upped their price target on Citizens Financial Group from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, Morgan Stanley dropped their price target on Citizens Financial Group from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $32.50.
Shares of NYSE CFG opened at $25.44 on Tuesday. The firm has a market capitalization of $11.05 billion, a P/E ratio of 10.14, a P/E/G ratio of 2.52 and a beta of 1.82. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $24.75 and its two-hundred day simple moving average is $25.54. Citizens Financial Group Inc has a twelve month low of $14.12 and a twelve month high of $41.29.
Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, July 17th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.36. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.68 billion. Citizens Financial Group had a return on equity of 5.85% and a net margin of 14.58%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. As a group, research analysts anticipate that Citizens Financial Group Inc will post 1.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were paid a $0.39 dividend. The ex-dividend date was Tuesday, July 28th. This represents a $1.56 dividend on an annualized basis and a yield of 6.13%. Citizens Financial Group’s dividend payout ratio is currently 40.63%.
About Citizens Financial Group
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
Recommended Story: What is the Current Ratio?
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).