Wedge Capital Management L L P NC lessened its position in shares of Citizens Financial Group Inc (NYSE:CFG) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796,278 shares of the bank’s stock after selling 26,402 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Citizens Financial Group were worth $32,337,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its position in shares of Citizens Financial Group by 1,805.9% during the 2nd quarter. Jane Street Group LLC now owns 45,741 shares of the bank’s stock valued at $1,617,000 after buying an additional 43,341 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Citizens Financial Group by 100.0% during the second quarter. Point72 Asset Management L.P. now owns 1,205,478 shares of the bank’s stock worth $42,626,000 after acquiring an additional 602,666 shares during the last quarter. Stifel Financial Corp raised its position in Citizens Financial Group by 13.7% during the third quarter. Stifel Financial Corp now owns 460,201 shares of the bank’s stock valued at $16,291,000 after purchasing an additional 55,308 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in Citizens Financial Group by 63.6% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 30,013 shares of the bank’s stock valued at $1,057,000 after purchasing an additional 11,667 shares during the period. Finally, Pictet Asset Management Ltd. lifted its stake in shares of Citizens Financial Group by 7.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 252,419 shares of the bank’s stock valued at $8,928,000 after purchasing an additional 17,300 shares during the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.
Several equities analysts have recently weighed in on CFG shares. JPMorgan Chase & Co. cut their target price on Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Barclays upgraded Citizens Financial Group from an “equal weight” rating to an “overweight” rating and set a $49.00 price target for the company in a research report on Monday, January 6th. ValuEngine lowered shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Morgan Stanley dropped their price objective on shares of Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. 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 research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.19.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. Citizens Financial Group had a return on equity of 8.85% and a net margin of 22.29%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts expect that Citizens Financial Group Inc will post 3.81 EPS for the current fiscal year.
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.
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