Citizens Financial Group Inc (CFG) Shares Bought by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC increased its stake in Citizens Financial Group Inc (NYSE:CFG) by 82.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,933 shares of the bank’s stock after purchasing an additional 36,685 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Citizens Financial Group were worth $2,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Citizens Financial Group by 14.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock valued at $655,180,000 after purchasing an additional 2,189,838 shares in the last quarter. LSV Asset Management increased its holdings in Citizens Financial Group by 9.0% during the 4th quarter. LSV Asset Management now owns 9,171,729 shares of the bank’s stock valued at $272,675,000 after acquiring an additional 759,769 shares in the last quarter. Geode Capital Management LLC increased its holdings in Citizens Financial Group by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 6,302,325 shares of the bank’s stock valued at $187,048,000 after acquiring an additional 398,877 shares in the last quarter. Northern Trust Corp increased its holdings in Citizens Financial Group by 0.5% during the 4th quarter. Northern Trust Corp now owns 5,679,565 shares of the bank’s stock valued at $168,853,000 after acquiring an additional 25,554 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Citizens Financial Group by 6.8% during the 4th quarter. Bank of Montreal Can now owns 5,671,400 shares of the bank’s stock valued at $168,610,000 after acquiring an additional 359,278 shares in the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Several equities analysts have weighed in on CFG shares. Zacks Investment Research downgraded shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, December 20th. Royal Bank of Canada upgraded shares of Citizens Financial Group from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 2nd. They noted that the move was a valuation call. Barclays dropped their target price on shares of Citizens Financial Group from $51.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, January 2nd. Goldman Sachs Group upgraded shares of Citizens Financial Group to a “buy” rating and dropped their target price for the company from $44.00 to $40.00 in a report on Monday, January 7th. Finally, Citigroup upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and dropped their target price for the company from $41.00 to $37.00 in a report on Wednesday, January 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.60.

Shares of Citizens Financial Group stock traded down $0.61 during mid-day trading on Monday, hitting $34.45. 3,648,884 shares of the stock were exchanged, compared to its average volume of 4,788,961. Citizens Financial Group Inc has a twelve month low of $27.62 and a twelve month high of $43.51. The stock has a market capitalization of $15.96 billion, a P/E ratio of 9.68, a P/E/G ratio of 1.10 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.98.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 18th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.04. Citizens Financial Group had a net margin of 23.20% and a return on equity of 8.67%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts forecast that Citizens Financial Group Inc will post 3.87 EPS for the current year.

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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 provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Further Reading: Average Daily Trade Volume Explained

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

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