Insider Selling: Citizens Financial Group (NYSE:CFG) Insider Sells $769,494.32 in Stock

Citizens Financial Group, Inc. (NYSE:CFG) insider Susan Lamonica sold 13,258 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the transaction, the insider owned 165,971 shares in the company, valued at approximately $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Citizens Financial Group Trading Down 2.4%

Shares of Citizens Financial Group stock opened at $55.59 on Friday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $68.79. The firm has a market cap of $23.63 billion, a PE ratio of 14.37, a PEG ratio of 0.45 and a beta of 0.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.85 and a quick ratio of 0.84. The company has a 50 day simple moving average of $62.41 and a two-hundred day simple moving average of $56.64.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. Analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio is currently 47.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Citizens Financial Group in the 4th quarter valued at about $355,909,000. Ninety One UK Ltd bought a new position in Citizens Financial Group during the 3rd quarter worth approximately $308,946,000. AQR Capital Management LLC grew its position in Citizens Financial Group by 56.9% during the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock worth $451,075,000 after acquiring an additional 2,799,050 shares during the last quarter. Victory Capital Management Inc. increased its stake in Citizens Financial Group by 89.4% in the 4th quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank’s stock worth $276,372,000 after purchasing an additional 2,232,806 shares during the period. Finally, HoldCo Asset Management LP purchased a new position in Citizens Financial Group in the 2nd quarter worth approximately $93,361,000. 94.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CFG. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Citigroup upped their price objective on Citizens Financial Group from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $73.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, January 6th. Truist Financial raised their price objective on Citizens Financial Group from $63.00 to $71.00 and gave the company a “hold” rating in a report on Monday, January 26th. Finally, Royal Bank Of Canada boosted their target price on Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Twenty investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.95.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.