New York Life Investment Management LLC Sells 366 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

New York Life Investment Management LLC lowered its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 0.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,366 shares of the bank’s stock after selling 366 shares during the period. New York Life Investment Management LLC’s holdings in Citizens Financial Group were worth $2,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Savant Capital LLC purchased a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $401,000. Van ECK Associates Corp grew its stake in shares of Citizens Financial Group by 66.7% in the 4th quarter. Van ECK Associates Corp now owns 6,468 shares of the bank’s stock worth $214,000 after buying an additional 2,587 shares during the last quarter. Intrust Bank NA grew its stake in shares of Citizens Financial Group by 3.6% in the 4th quarter. Intrust Bank NA now owns 27,556 shares of the bank’s stock worth $913,000 after buying an additional 950 shares during the last quarter. Paradigm Financial Partners LLC grew its stake in shares of Citizens Financial Group by 16.3% in the 4th quarter. Paradigm Financial Partners LLC now owns 49,409 shares of the bank’s stock worth $1,637,000 after buying an additional 6,935 shares during the last quarter. Finally, VCI Wealth Management LLC purchased a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $35.00 to $41.00 in a research report on Friday, April 26th. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. lowered their price objective on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI upped their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, Wedbush lowered their price objective on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.73.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is currently owned by company insiders.

Citizens Financial Group Trading Up 1.1 %

Shares of Citizens Financial Group stock opened at $35.39 on Monday. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 12.82 and a beta of 1.36. The business has a 50-day moving average price of $34.04 and a 200-day moving average price of $31.31. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $36.38.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.23 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.42 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.75%. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Citizens Financial Group Company Profile

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.