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  • California Public Employees Retirement System Decreases Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

    California Public Employees Retirement System Decreases Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

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    California Public Employees Retirement System decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 868,454 shares of the bank’s stock after selling 63,082 shares during the quarter. California Public Employees Retirement System owned 0.19% of Citizens Financial Group worth $28,781,000 at the end of the most recent quarter.

    Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its stake in Citizens Financial Group by 40.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock worth $54,000 after purchasing an additional 472 shares during the period. Lindbrook Capital LLC increased its stake in Citizens Financial Group by 100.8% in the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after purchasing an additional 496 shares during the period. Highlander Capital Management LLC increased its stake in Citizens Financial Group by 19.6% in the fourth quarter. Highlander Capital Management LLC now owns 3,056 shares of the bank’s stock worth $101,000 after purchasing an additional 500 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Citizens Financial Group by 4.5% during the third quarter. Coldstream Capital Management Inc. now owns 12,246 shares of the bank’s stock valued at $328,000 after buying an additional 523 shares during the period. Finally, FSC Wealth Advisors LLC increased its stake in shares of Citizens Financial Group by 22.0% during the third quarter. FSC Wealth Advisors LLC now owns 2,927 shares of the bank’s stock valued at $78,000 after buying an additional 527 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

    Insider Buying and Selling at Citizens Financial Group

    In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the sale, the insider now owns 43,885 shares in the company, valued at $1,471,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by insiders.

    Analyst Upgrades and Downgrades

    A number of brokerages recently weighed in on CFG. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $41.00 in a research report on Friday. Royal Bank of Canada raised their price objective on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. StockNews.com cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday. Argus boosted their price objective on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price target on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.13.

    View Our Latest Report on CFG

    Citizens Financial Group Price Performance

    Shares of NYSE CFG opened at $35.15 on Friday. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $36.38. The business has a 50-day moving average of $33.68 and a 200-day moving average of $30.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 12.74 and a beta of 1.38.

    Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm posted $1.00 EPS. The company’s revenue was down 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

    Citizens Financial Group Dividend Announcement

    The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

    Citizens Financial Group Profile

    (Free Report)

    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.

    Featured Articles

    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 – Free Report).

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

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  • Three investors on how to protect your portfolio | CNN Business

    Three investors on how to protect your portfolio | CNN Business

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    A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.


    New York
    CNN
     — 

    Wall Street has been hit with a barrage of complex signals about the economy’s health over the past month. From banking turmoil to weakening jobs data to slowing inflation, and now the start of earnings season, investors have remained largely resilient.

    But the Federal Reserve’s March meeting minutes revealed last week that officials believe the economy will enter a recession later this year. While that’s not new news to investors who have worried that a recession is on the horizon for the past year, it does mean that markets could take a turn for the worse.

    So, how should investors protect their portfolios? Investors say there isn’t one asset that Wall Street should pile all their bets on, but there are fundamentals that should underlie their investment strategies.

    Jimmy Chang, chief investment officer at Rockefeller Global Family Office, says he advises clients to be patient, defensive and selective when navigating the market.

    In other words, investors should make decisions based on logic, not a fear of missing out.

    “You chase these rallies and then it fizzles out — you’re left holding the bag,” he said.

    Chang also recommends that investors stay defensive by investing in high-quality blue chip stocks with solid balance sheets and keep dry powder.

    Doug Fincher, portfolio manager at Ionic Capital Management, says investors should brace their portfolios against inflation.

    The Personal Consumption Expenditures price index rose 5% for the 12 months ended in February, showing that inflation remains much higher than the Fed’s 2% target.

    Coupled with the fact that the central bank has signaled that it plans to pause interest rate hikes sometime this year, it’s possible inflation could prove stickier than Wall Street expects.

    “It is the boogeyman of traditional investments,” Fincher said.

    He manages the Ionic Inflation Protection exchange-traded fund, which seeks to specifically perform well during periods of high inflation. The portfolio’s core exposure is inflation swaps, which are transactions in which one investor agrees to swap fixed payments for floating payments tied to the inflation rate. The fund also invests in short-duration Treasury Inflation Protected Securities.

    Megan Horneman, chief investment officer at Verdence Capital Advisors, says that her firm has hedged its portfolio in cash. A well-known haven, cash is a better alternative to other perceived safe spots like gold, which tends to be volatile and run up too fast, she said.

    Investors have rushed into money market funds in recent weeks after the banking turmoil both shook their confidence in the banking system and sent ripples through the market.

    “Cash is actually earning you something at this point,” Horneman said. “You have to look long term.”

    Earnings season kicked off Friday with a bonanza of earnings from the nation’s largest banks.

    Perhaps most noteworthy out of the bunch was JPMorgan Chase, which reported record revenue and an earnings beat for its latest quarter.

    The bank has $3.67 trillion in assets, making it the largest bank in the country and a bellwether for the economy. Strong earnings reports from the New York-based bank and its peers including Wells Fargo, Citigroup and PNC Financial Services have shown a promising start to the earnings season.

    Charles Schwab, Goldman Sachs, Bank of America and Morgan Stanley report next week.

    Here are some key takeaways from JPMorgan Chase’s first-quarter earnings:

    • The company guided net interest income to be about $81 billion in 2023, up $7 billion from its previous estimate. That’s especially important because this earnings season is all about guidance, as investors try to gauge whether the economy is headed for a recession and which companies will be able to weather a potential downturn.
    • CEO Jamie Dimon said in the post-earnings conference call that while financial conditions are a bit tighter after the collapse of Silicon Valley Bank and Signature Bank, he doesn’t see a credit crunch. But chances of a recession are now higher, he said.
    • The company said that its portfolio’s exposure to the office sector is less than 10%, addressing concerns that the $20 trillion commercial real estate industry could be the next space to see turmoil.

    Read more here.

    Monday: Empire State manufacturing index and homebuilder confidence index. Earnings report from Charles Schwab (SCHW).

    Tuesday: Earnings reports from Bank of America (BAC), Goldman Sachs (GS), Johnson & Johnson (JNJ), Netflix (NFLX), United Airlines (UAL) and Western Alliance Bancorp (WAL).

    Wednesday: Earnings reports from Citizens Financial Group (CFG), Morgan Stanley (MS), Tesla (TSLA) and International Business Machines (IBM). Speech from NY Federal Reserve President John Williams.

    Thursday: Philadelphia Fed manufacturing index, jobless claims, mortgage rates, US leading economic indicators and existing home sales. Earnings reports from AutoNation (AN) and American Express (AXP).

    Friday: Manufacturing PMI and services PMI. Earnings report from Procter & Gamble (PG).

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