QS Investors LLC Trims Stake in Citizens Financial Group Inc (CFG)

QS Investors LLC trimmed its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,156 shares of the bank’s stock after selling 37,792 shares during the period. QS Investors LLC’s holdings in Citizens Financial Group were worth $3,484,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CFG. Oregon Public Employees Retirement Fund lifted its position in shares of Citizens Financial Group by 2,924.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,910,982 shares of the bank’s stock worth $132,000 after purchasing an additional 3,781,655 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Citizens Financial Group by 14.8% during the third quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock worth $655,180,000 after purchasing an additional 2,189,838 shares in the last quarter. BlackRock Inc. lifted its position in shares of Citizens Financial Group by 2.9% during the third quarter. BlackRock Inc. now owns 42,438,174 shares of the bank’s stock worth $1,636,839,000 after purchasing an additional 1,208,420 shares in the last quarter. Scout Investments Inc. lifted its position in shares of Citizens Financial Group by 1,037.6% during the fourth quarter. Scout Investments Inc. now owns 1,291,925 shares of the bank’s stock worth $38,409,000 after purchasing an additional 1,178,363 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of Citizens Financial Group by 18.7% during the third quarter. Panagora Asset Management Inc. now owns 5,303,647 shares of the bank’s stock worth $204,562,000 after purchasing an additional 835,810 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Shares of NYSE CFG opened at $35.87 on Friday. Citizens Financial Group Inc has a fifty-two week low of $27.62 and a fifty-two week high of $45.65. The company has a market capitalization of $16.50 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.44. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, January 18th. The bank reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.60 billion. Citizens Financial Group had a net margin of 23.20% and a return on equity of 8.67%. Citizens Financial Group’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. Research analysts predict that Citizens Financial Group Inc will post 3.88 EPS for the current fiscal year.

CFG has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Monday, November 19th. Macquarie upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 27th. Credit Suisse Group cut their price objective on shares of Citizens Financial Group from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, December 7th. Morgan Stanley cut their price objective on shares of Citizens Financial Group from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, December 11th. Finally, Royal Bank of Canada upgraded shares of Citizens Financial Group from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 2nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.91.

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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 provide 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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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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