State of New Jersey Common Pension Fund D lifted its stake in Citizens Financial Group Inc (NYSE:CFG) by 108.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 500,000 shares of the bank’s stock after purchasing an additional 260,000 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.11% of Citizens Financial Group worth $19,285,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in shares of Citizens Financial Group by 2.1% in the 2nd quarter. Amalgamated Bank now owns 62,504 shares of the bank’s stock worth $2,431,000 after purchasing an additional 1,276 shares during the period. Sei Investments Co. boosted its holdings in shares of Citizens Financial Group by 0.4% in the 2nd quarter. Sei Investments Co. now owns 315,289 shares of the bank’s stock worth $12,264,000 after purchasing an additional 1,287 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Citizens Financial Group by 1.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 101,285 shares of the bank’s stock worth $3,940,000 after acquiring an additional 1,363 shares during the last quarter. Greenleaf Trust lifted its stake in shares of Citizens Financial Group by 23.4% during the 2nd quarter. Greenleaf Trust now owns 7,469 shares of the bank’s stock worth $291,000 after acquiring an additional 1,414 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Citizens Financial Group by 23.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,608 shares of the bank’s stock worth $335,000 after acquiring an additional 1,614 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.
Shares of CFG stock opened at $36.37 on Friday. Citizens Financial Group Inc has a 52-week low of $34.88 and a 52-week high of $48.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $16.56 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 0.69 and a beta of 1.38.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. Citizens Financial Group had a return on equity of 7.59% and a net margin of 26.72%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $0.63 EPS. Citizens Financial Group’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts expect that Citizens Financial Group Inc will post 3.5 EPS for the current year.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine lowered Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Morgan Stanley decreased their price target on Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Citizens Financial Group presently has an average rating of “Hold” and a consensus price target of $46.89.
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.
Further Reading: Closed-End Mutual Funds (CEFs)
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