Lincoln Capital Corp reduced its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 74,739 shares of the bank’s stock after selling 369 shares during the period. Citizens Financial Group makes up approximately 2.2% of Lincoln Capital Corp’s holdings, making the stock its 17th biggest holding. Lincoln Capital Corp’s holdings in Citizens Financial Group were worth $2,645,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CFG. Nuveen Asset Management LLC raised its holdings in Citizens Financial Group by 67,645.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,455,935 shares of the bank’s stock worth $299,002,000 after buying an additional 8,443,453 shares during the period. Eminence Capital LP acquired a new stake in Citizens Financial Group during the 2nd quarter worth approximately $87,590,000. Nomura Holdings Inc. acquired a new stake in Citizens Financial Group during the 2nd quarter worth approximately $56,779,000. Prudential Financial Inc. raised its holdings in shares of Citizens Financial Group by 75.0% in the second quarter. Prudential Financial Inc. now owns 2,796,300 shares of the bank’s stock valued at $98,877,000 after purchasing an additional 1,198,821 shares during the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in shares of Citizens Financial Group by 1,469.4% in the second quarter. Balyasny Asset Management LLC now owns 933,552 shares of the bank’s stock valued at $33,010,000 after purchasing an additional 874,067 shares during the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.
In other news, Director Charles John Koch bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average cost of $32.45 per share, with a total value of $486,750.00. Following the completion of the purchase, the director now owns 68,781 shares of the company’s stock, valued at $2,231,943.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.
Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Citizens Financial Group had a net margin of 22.29% and a return on equity of 8.85%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the business earned $0.93 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Citizens Financial Group Inc will post 3.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $1.44 annualized dividend and a dividend yield of 3.74%. Citizens Financial Group’s dividend payout ratio is presently 40.45%.
A number of analysts have recently issued reports on CFG shares. Argus upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Monday, July 29th. Morgan Stanley lowered their price objective on shares of Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Citigroup downgraded shares of Citizens Financial Group from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $39.00 to $32.00 in a report on Tuesday, October 8th. Finally, Zacks Investment Research upgraded shares of Citizens Financial Group from a “strong sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.65.
Citizens Financial Group Profile
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.
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