American International Group Inc. Acquires 8,171 Shares of Citizens Financial Group Inc (CFG)

American International Group Inc. lifted its holdings in Citizens Financial Group Inc (NYSE:CFG) by 4.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 208,158 shares of the bank’s stock after acquiring an additional 8,171 shares during the quarter. American International Group Inc.’s holdings in Citizens Financial Group were worth $8,029,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Sei Investments Co. grew its position 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 buying an additional 1,287 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Citizens Financial Group by 1.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 101,285 shares of the bank’s stock worth $3,940,000 after buying an additional 1,363 shares during the period. Greenleaf Trust grew its position in shares of Citizens Financial Group by 23.4% in the 2nd quarter. Greenleaf Trust now owns 7,469 shares of the bank’s stock worth $291,000 after buying an additional 1,414 shares during the period. Synovus Financial Corp grew its position in shares of Citizens Financial Group by 67.3% in the 3rd quarter. Synovus Financial Corp now owns 3,524 shares of the bank’s stock worth $137,000 after buying an additional 1,417 shares during the period. Finally, Private Advisor Group LLC grew its position in shares of Citizens Financial Group by 16.0% in the 3rd quarter. Private Advisor Group LLC now owns 12,072 shares of the bank’s stock worth $466,000 after buying an additional 1,669 shares during the period. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Citizens Financial Group stock opened at $36.36 on Monday. The stock has a market capitalization of $17.01 billion, a P/E ratio of 14.09, a PEG ratio of 0.67 and a beta of 1.25. Citizens Financial Group Inc has a 1 year low of $34.82 and a 1 year high of $48.23. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.79.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, October 19th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Citizens Financial Group had a net margin of 27.12% and a return on equity of 8.11%. Citizens Financial Group’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, analysts expect that Citizens Financial Group Inc will post 3.51 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Tuesday, October 30th. Citizens Financial Group’s payout ratio is 41.86%.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine cut shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Macquarie upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 27th. Bank of America upgraded shares of Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Monday, October 22nd. Finally, BMO Capital Markets dropped their price target on shares of Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Citizens Financial Group has an average rating of “Buy” and an average target price of $44.64.

In related news, Director Charles John Koch bought 14,000 shares of the stock in a transaction on Tuesday, October 23rd. The shares were acquired at an average price of $36.32 per share, for a total transaction of $508,480.00. Following the purchase, the director now owns 49,937 shares of the company’s stock, valued at $1,813,711.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Shivan S. Subramaniam bought 3,000 shares of the stock in a transaction on Wednesday, November 21st. The shares were bought at an average price of $35.32 per share, for a total transaction of $105,960.00. Following the purchase, the director now directly owns 38,963 shares in the company, valued at approximately $1,376,173.16. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by corporate insiders.

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Citizens Financial Group Company Profile

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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Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group Inc (NYSE:CFG).

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

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