M&R Capital Management Inc. Sells 2,861 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

M&R Capital Management Inc. decreased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 187,476 shares of the bank’s stock after selling 2,861 shares during the period. Citizens Financial Group makes up about 1.7% of M&R Capital Management Inc.’s holdings, making the stock its 17th largest holding. M&R Capital Management Inc.’s holdings in Citizens Financial Group were worth $6,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HighPoint Advisor Group LLC purchased a new position in shares of Citizens Financial Group during the fourth quarter worth about $208,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Citizens Financial Group during the 4th quarter valued at $5,965,000. SageView Advisory Group LLC lifted its holdings in shares of Citizens Financial Group by 25.8% during the 4th quarter. SageView Advisory Group LLC now owns 22,286 shares of the bank’s stock worth $765,000 after acquiring an additional 4,566 shares during the last quarter. Richardson Financial Services Inc. bought a new position in Citizens Financial Group in the fourth quarter valued at $194,000. Finally, V Square Quantitative Management LLC raised its position in Citizens Financial Group by 20.4% during the fourth quarter. V Square Quantitative Management LLC now owns 12,994 shares of the bank’s stock valued at $431,000 after purchasing an additional 2,198 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the transaction, the insider now directly owns 37,558 shares in the company, valued at approximately $1,265,704.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $38.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, June 12th. Wedbush lowered their target price on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 5th. Argus boosted their price objective on shares of Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Citigroup raised their target price on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.67.

Citizens Financial Group Stock Up 1.0 %

Citizens Financial Group stock traded up $0.35 during trading hours on Tuesday, hitting $34.85. The stock had a trading volume of 1,504,330 shares, compared to its average volume of 5,328,540. The stock’s 50-day moving average price is $34.87 and its 200-day moving average price is $33.44. The stock has a market capitalization of $15.86 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.32 and a beta of 1.10. Citizens Financial Group, Inc. has a 12-month low of $22.77 and a 12-month high of $37.30. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Citizens Financial Group’s revenue was down 7.9% on a year-over-year basis. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.16 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.42 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.82%. Citizens Financial Group’s payout ratio is 60.87%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company 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.