Hartford Investment Management Co. Reduces Stake in Citizens Financial Group Inc (CFG)

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Hartford Investment Management Co. lowered its stake in Citizens Financial Group Inc (NYSE:CFG) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,969 shares of the bank’s stock after selling 3,201 shares during the quarter. Hartford Investment Management Co.’s holdings in Citizens Financial Group were worth $1,664,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CFG. JPMorgan Chase & Co. raised its holdings in Citizens Financial Group by 14.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock valued at $655,180,000 after buying an additional 2,189,838 shares during the last quarter. BlackRock Inc. raised its holdings in Citizens Financial Group by 2.9% in the 3rd quarter. BlackRock Inc. now owns 42,438,174 shares of the bank’s stock valued at $1,636,839,000 after buying an additional 1,208,420 shares during the last quarter. Scout Investments Inc. raised its holdings in Citizens Financial Group by 1,037.6% in the 4th quarter. Scout Investments Inc. now owns 1,291,925 shares of the bank’s stock valued at $38,409,000 after buying an additional 1,178,363 shares during the last quarter. LSV Asset Management raised its holdings in Citizens Financial Group by 12.0% in the 3rd quarter. LSV Asset Management now owns 8,411,960 shares of the bank’s stock valued at $324,449,000 after buying an additional 898,835 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in Citizens Financial Group by 18.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 5,303,647 shares of the bank’s stock valued at $204,562,000 after buying an additional 835,810 shares during the last quarter. 96.94% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday, January 31st. BMO Capital Markets dropped their price objective on shares of Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. Finally, Credit Suisse Group dropped their price objective on shares of Citizens Financial Group from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, December 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.82.

In other news, Director Shivan S. Subramaniam bought 3,000 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was acquired at an average price of $35.32 per share, with a total value of $105,960.00. Following the transaction, the director now owns 38,963 shares of the company’s stock, valued at approximately $1,376,173.16. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

NYSE:CFG opened at $35.32 on Monday. The company has a market cap of $16.53 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.59 and a beta of 1.42. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.98. Citizens Financial Group Inc has a fifty-two week low of $27.62 and a fifty-two week high of $46.96.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, January 18th. The bank reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. Citizens Financial Group had a net margin of 23.20% and a return on equity of 8.67%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, sell-side analysts expect that Citizens Financial Group Inc will post 3.87 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, January 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.27. Citizens Financial Group’s dividend payout ratio is currently 35.96%.

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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 provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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