Capital Research & Management Co recently announced the acquisition of new stake in Citizens Financial Group Inc (NYSE:CFG). The institutional investor has increased its shareholding in the Financial company by 53.16% to 33.96 million shares with purchase of 11.79 million shares. This fresh investment now brings its stake to 7.28% valued currently at $1.13 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.34 million to 25.53 million shares. And Hotchkis & Wiley Capital Manageme has lifted its position by 9.71% or 1.56 million shares – to 17.62 million shares.
Currently, there are 466.42M common shares owned by the public and among those 463.02M shares have been available to trade.
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Insiders at the company have transacted a total of 115 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 84 of these insider trades were purchases, accounting for 860,781 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 446,285 shares.
The top 3 mutual fund holders in Citizens Financial Group Inc are Washington Mutual Investors Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Washington Mutual Investors Fund owns 15.85 million shares of the company’s stock, all valued at over $525.32 million. The company bought an additional 2.05 million shares recently to bring their total holdings to about 3.40% of the shares outstanding. Vanguard Total Stock Market ETF sold -0.16 million shares to see its total holdings shrink to 13.88 million shares valued at over $460.0 million and representing 2.98% of the shares outstanding. Vanguard 500 Index Fund sold -0.12 million shares to bring its total holdings to over 11.39 million shares at a value of $377.35 million. Vanguard 500 Index Fund now owns shares totaling to 2.44% of the shares outstanding.
The company’s stock has a 5-day price change of 6.03% and 39.23% over the past three months. CFG shares are trading -0.18% year to date (YTD), with the 12-month market performance down to -19.83% lower. It has a 12-month low price of $22.77 and touched a high of $44.82 over the same period. CFG has an average intraday trading volume of 5.46 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.85%, 9.43%, and 17.30% respectively.
Institutional ownership of Citizens Financial Group Inc (NYSE: CFG) shares accounts for 96.96% of the company’s 466.42M shares outstanding. Mutual fund holders own 37.28%, while other institutional holders and individual stakeholders account for 60.51% and 26.73% respectively.
It has a market capitalization of $15.42B and a beta (3y monthly) value of 1.38. The stock’s trailing 12-month PE ratio is 10.63, while the earnings-per-share (ttm) stands at $3.11. The company has a PEG of 12.50 and the debt-to-equity ratio at 0.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.04% over the week and 2.57% over the month.
Analysts forecast that Citizens Financial Group Inc (CFG) will achieve an EPS of $0.77 for the current quarter, $0.79 for the next quarter and $4.07 for 2025. The lowest estimate earnings-per-share for the quarter is $0.67 while analysts give the company a high EPS estimate of $0.86. Comparatively, EPS for the current quarter was $1 a year ago. Earnings per share for the fiscal year are expected to increase by 6.04%, and 22.24% over the next financial year. EPS should grow at an annualized rate of 0.85% over the next five years, compared to -2.33% over the past 5-year period.
Looking at the support for the CFG, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on January 02, 2024, with the firm’s price target at $38-$40.
