Legal & General Group Plc Reduces Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Legal & General Group Plc lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,960 shares of the bank's stock after selling 11,621 shares during the quarter. Legal & General Group Plc owned about 0.31% of First Citizens BancShares worth $90,775,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FCNCA. Sei Investments Co. lifted its holdings in shares of First Citizens BancShares by 69.6% in the fourth quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock worth $6,404,000 after acquiring an additional 1,244 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after buying an additional 18,501 shares during the last quarter. Check Capital Management Inc. CA increased its holdings in shares of First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock worth $70,995,000 after buying an additional 5,605 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of First Citizens BancShares by 4.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock valued at $7,811,000 after acquiring an additional 157 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Citizens BancShares during the 4th quarter valued at $39,739,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of the company's stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FCNCA shares. Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Finally, Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,346.09.

First Citizens BancShares Stock Up 1.9 %

NASDAQ FCNCA traded up $31.80 during mid-day trading on Thursday, hitting $1,723.56. The company's stock had a trading volume of 17,938 shares, compared to its average volume of 88,738. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company's 50 day simple moving average is $1,872.48 and its 200 day simple moving average is $2,031.51. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The firm has a market capitalization of $23.40 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.