Ellevest Inc. Sells 1,454 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Posted by Defense World Staff on Aug 6th, 2023

Ellevest Inc. decreased its position in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 52.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,317 shares of the bank’s stock after selling 1,454 shares during the period. Ellevest Inc.’s holdings in Citizens Financial Group were worth $40,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CFG. Raymond James Financial Services Advisors Inc. boosted its holdings in Citizens Financial Group by 23.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,537 shares of the bank’s stock valued at $478,000 after acquiring an additional 1,980 shares in the last quarter. American Century Companies Inc. boosted its holdings in Citizens Financial Group by 29.7% in the first quarter. American Century Companies Inc. now owns 53,879 shares of the bank’s stock valued at $2,442,000 after acquiring an additional 12,350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Citizens Financial Group by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,027 shares of the bank’s stock valued at $2,585,000 after acquiring an additional 3,531 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Citizens Financial Group by 9.3% during the 1st quarter. Yousif Capital Management LLC now owns 71,237 shares of the bank’s stock valued at $3,229,000 after buying an additional 6,060 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Citizens Financial Group by 1.5% during the 1st quarter. Blair William & Co. IL now owns 38,619 shares of the bank’s stock valued at $1,751,000 after buying an additional 586 shares in the last quarter. Institutional investors own 88.85% of the company’s stock.

Analysts Set New Price Targets

CFG has been the topic of a number of research reports. Citigroup boosted their target price on shares of Citizens Financial Group from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Royal Bank of Canada dropped their target price 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. Credit Suisse Group restated a “neutral” rating and set a $35.00 target price on shares of Citizens Financial Group in a report on Thursday, July 20th. Wedbush boosted their target price on shares of Citizens Financial Group from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. Finally, Evercore ISI lowered Citizens Financial Group from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $32.00 to $29.00 in a research report on Monday, July 10th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.71.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $31.25 on Friday. Citizens Financial Group, Inc. has a fifty-two week low of $23.37 and a fifty-two week high of $44.82. The business has a 50-day simple moving average of $28.30 and a two-hundred day simple moving average of $32.10. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.90 and a current ratio of 0.91. The firm has a market cap of $15.12 billion, a price-to-earnings ratio of 7.10 and a beta of 1.33.

Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.08). Citizens Financial Group had a net margin of 20.41% and a return on equity of 10.68%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the company earned $1.14 EPS. On average, analysts expect that Citizens Financial Group, Inc. will post 3.86 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.38%. The ex-dividend date is Tuesday, August 1st. Citizens Financial Group’s payout ratio is currently 38.18%.

Insider Activity

In other Citizens Financial Group news, Director Terrance Lillis purchased 1,000 shares of Citizens Financial Group stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $26.39 per share, with a total value of $26,390.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $79,170. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

About Citizens Financial Group

(Free Report)

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.