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Hedge Funds Are Back On The Citizens Financial Group Inc (CFG) Bandwagon

Now, key hedge funds were breaking ground themselves. Citadel Investment Group established the most valuable position in Citizens Financial Group Inc (NYSE:CFG). SAB Capital Management, Adage Capital Management, Curtis Macnguyen’s Ivory Capital (Investment Mgmt), and Anand Parekh’s Alyeska Investment Group were some of the other funds with new CFG positions.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Citizens Financial Group Inc (NYSE:CFG) but similarly valued. These stocks are Genuine Parts Company (NYSE:GPC), Verisk Analytics, Inc. (NASDAQ:VRSK), Enersis S.A. (ADR) (NYSE:ENI), and Universal Health Services, Inc. (NYSE:UHS). This group of stocks’ market valuations are closest to CFG’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GPC 23 391727 -4
VRSK 28 723625 -9
ENI 13 109050 0
UHS 44 1040008 -6

As you can see these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $566 million. That figure was $1.55 billion in CFG’s case. Universal Health Services, Inc. (NYSE:UHS) is the most popular stock in this table. On the other hand Enersis S.A. (ADR) (NYSE:ENI) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Citizens Financial Group Inc (NYSE:CFG) is more popular among hedge funds. Considering that hedge funds are very fond of this stock in relation to its market cap peers and that their sentiment for it is soaring again, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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