Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,583,539 shares of the bank’s stock after buying an additional 110,240 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.33% of Citizens Financial Group worth $48,092,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CFG. Heritage Wealth Management LLC raised its position in shares of Citizens Financial Group by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 646 shares of the bank’s stock worth $25,000 after buying an additional 323 shares in the last quarter. Asset Dedication LLC raised its holdings in shares of Citizens Financial Group by 155.2% in the 1st quarter. Asset Dedication LLC now owns 809 shares of the bank’s stock worth $25,000 after purchasing an additional 492 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. raised its holdings in shares of Citizens Financial Group by 483.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 875 shares of the bank’s stock worth $34,000 after purchasing an additional 725 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC bought a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $34,000. 88.85% of the stock is currently owned by institutional investors.
Citizens Financial Group Stock Performance
Shares of CFG opened at $29.12 on Wednesday. The company’s 50 day moving average price is $26.90 and its 200 day moving average price is $32.90. Citizens Financial Group, Inc. has a 52 week low of $23.37 and a 52 week high of $44.82. The company has a market capitalization of $14.09 billion, a PE ratio of 7.02 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 0.94.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CFG. Barclays dropped their target price on shares of Citizens Financial Group from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 20th. JPMorgan Chase & Co. downgraded shares of Citizens Financial Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $27.00 in a report on Thursday, June 29th. TheStreet lowered shares of Citizens Financial Group from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Royal Bank of Canada cut their price target on shares of Citizens Financial Group from $52.00 to $44.00 and set an “outperform” rating on the stock in a report on Friday, June 30th. Finally, DA Davidson cut their price target on shares of Citizens Financial Group from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.06.
Insiders Place Their Bets
In other Citizens Financial Group news, Director Terrance Lillis bought 1,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was bought at an average cost of $26.39 per share, with a total value of $26,390.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $79,170. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Citizens Financial Group news, Director Terrance Lillis bought 1,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was bought at an average cost of $26.39 per share, with a total value of $26,390.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $79,170. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Shivan S. Subramaniam bought 3,300 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was acquired at an average cost of $28.79 per share, with a total value of $95,007.00. Following the completion of the transaction, the director now directly owns 66,263 shares of the company’s stock, valued at $1,907,711.77. The disclosure for this purchase can be found here. Insiders own 0.53% of the company’s stock.
About Citizens Financial Group
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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