Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 77.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,359 shares of the bank's stock after selling 95,814 shares during the quarter. SG Americas Securities LLC's holdings in Citizens Financial Group were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in shares of Citizens Financial Group in the 2nd quarter valued at about $25,000. Versant Capital Management Inc increased its position in shares of Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank's stock worth $34,000 after purchasing an additional 678 shares in the last quarter. Private Ocean LLC increased its position in shares of Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank's stock worth $36,000 after purchasing an additional 838 shares in the last quarter. Quarry LP boosted its position in shares of Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank's stock worth $37,000 after purchasing an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Citizens Financial Group during the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Price Performance

CFG traded up $1.29 during midday trading on Friday, hitting $42.59. 4,844,482 shares of the company traded hands, compared to its average volume of 5,355,248. The business has a 50 day simple moving average of $40.88 and a two-hundred day simple moving average of $37.76. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $43.96. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.42 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.95 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The company's quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group's payout ratio is 64.12%.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the sale, the insider now owns 33,620 shares of the company's stock, valued at $1,454,401.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on CFG. Piper Sandler raised their price target on Citizens Financial Group from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Stephens lifted their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, July 19th. DA Davidson boosted their price target on Citizens Financial Group from $41.00 to $46.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. UBS Group upped their target price on Citizens Financial Group from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a "market perform" rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Citizens Financial Group currently has a consensus rating of "Hold" and an average target price of $43.07.

About Citizens Financial Group

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.