Prudential PLC lessened its stake in shares of Citizens Financial Group Inc (NYSE:CFG) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,047 shares of the bank’s stock after selling 6,700 shares during the quarter. Prudential PLC’s holdings in Citizens Financial Group were worth $4,728,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CFG. Acadian Asset Management LLC bought a new position in Citizens Financial Group during the third quarter worth $158,000. Private Advisor Group LLC boosted its position in shares of Citizens Financial Group by 16.0% in the third quarter. Private Advisor Group LLC now owns 12,072 shares of the bank’s stock valued at $466,000 after acquiring an additional 1,669 shares during the period. ING Groep NV boosted its position in shares of Citizens Financial Group by 10.2% in the third quarter. ING Groep NV now owns 57,208 shares of the bank’s stock valued at $2,207,000 after acquiring an additional 5,305 shares during the period. SG Americas Securities LLC boosted its position in shares of Citizens Financial Group by 80.9% in the third quarter. SG Americas Securities LLC now owns 98,045 shares of the bank’s stock valued at $3,782,000 after acquiring an additional 43,839 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Citizens Financial Group by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock valued at $655,180,000 after acquiring an additional 2,189,838 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on CFG. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Monday, November 19th. Macquarie raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 27th. Finally, Credit Suisse Group reduced their target price on shares of Citizens Financial Group from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, December 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $40.91.
CFG stock opened at $35.74 on Friday. The stock has a market capitalization of $16.34 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.54 and a beta of 1.44. Citizens Financial Group Inc has a 52 week low of $27.62 and a 52 week high of $45.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.98.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 18th. The bank reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. Citizens Financial Group had a return on equity of 8.67% and a net margin of 23.20%. Citizens Financial Group’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. On average, sell-side analysts predict that Citizens Financial Group Inc will post 3.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Thursday, January 31st were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Wednesday, January 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.27. Citizens Financial Group’s payout ratio is 35.96%.
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Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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