Guggenheim Capital LLC Sells 18,581 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Guggenheim Capital LLC lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 17.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,808 shares of the bank’s stock after selling 18,581 shares during the period. Guggenheim Capital LLC’s holdings in Citizens Financial Group were worth $2,290,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital World Investors increased its position in Citizens Financial Group by 76.0% during the first quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock valued at $861,383,000 after acquiring an additional 8,203,831 shares during the last quarter. Norges Bank bought a new stake in shares of Citizens Financial Group during the 4th quarter valued at about $192,928,000. Morgan Stanley increased its position in shares of Citizens Financial Group by 18.0% during the 4th quarter. Morgan Stanley now owns 18,297,989 shares of the bank’s stock valued at $720,392,000 after purchasing an additional 2,785,751 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Citizens Financial Group by 4.6% in the 1st quarter. BlackRock Inc. now owns 57,592,192 shares of the bank’s stock worth $1,749,075,000 after purchasing an additional 2,540,392 shares during the period. Finally, Bank of Montreal Can purchased a new position in shares of Citizens Financial Group in the second quarter worth approximately $52,207,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $27.25 on Friday. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 6.78 and a beta of 1.38. The firm has a fifty day moving average price of $25.78 and a 200 day moving average price of $27.29. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $44.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92.

Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings data on Wednesday, October 18th. The bank reported $0.85 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.06). The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. Citizens Financial Group had a net margin of 17.61% and a return on equity of 9.60%. During the same period last year, the company earned $1.30 EPS. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.64 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend was Tuesday, October 31st. Citizens Financial Group’s payout ratio is 41.79%.

Wall Street Analyst Weigh In

CFG has been the subject of a number of research reports. StockNews.com started coverage on shares of Citizens Financial Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Citigroup restated a “neutral” rating and issued a $33.00 price objective on shares of Citizens Financial Group in a research note on Tuesday, September 19th. Wolfe Research upgraded Citizens Financial Group from an “underperform” rating to a “peer perform” rating in a research report on Monday, October 23rd. Piper Sandler cut Citizens Financial Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $26.00 in a research report on Wednesday, October 25th. Finally, Royal Bank of Canada lowered their price objective on Citizens Financial Group from $37.00 to $33.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 12th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.07.

Check Out Our Latest Research Report on CFG

Citizens Financial Group Company Profile

(Free Report)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.

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