Legal & General Group Plc Reduces Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Legal & General Group Plc trimmed its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 21.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,606,794 shares of the bank’s stock after selling 697,980 shares during the period. Legal & General Group Plc’s holdings in Citizens Financial Group were worth $114,073,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameliora Wealth Management Ltd. acquired a new stake in Citizens Financial Group in the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Citizens Financial Group in the 4th quarter worth about $28,000. Sierra Ocean LLC acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at about $47,000. Duncker Streett & Co. Inc. acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at about $51,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Citizens Financial Group during the fourth quarter worth about $66,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CFG shares. Truist Financial cut their price objective on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Raymond James restated a “strong-buy” rating and set a $58.00 price objective (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Morgan Stanley decreased their price objective on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Citigroup dropped their target price on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.06.

Citizens Financial Group Stock Performance

CFG opened at $34.67 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $42.34 and its 200-day moving average is $43.82. The stock has a market cap of $15.15 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. Citizens Financial Group, Inc. has a twelve month low of $32.06 and a twelve month high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s payout ratio is currently 55.45%.

About Citizens Financial Group

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.