AIA Group Ltd Lowers Position in Citizens Financial Group, Inc. (NYSE:CFG)

AIA Group Ltd decreased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 20.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,932 shares of the bank’s stock after selling 6,326 shares during the quarter. AIA Group Ltd’s holdings in Citizens Financial Group were worth $1,047,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Citizens Financial Group by 207.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. Norges Bank bought a new position in shares of Citizens Financial Group in the 4th quarter worth $243,431,000. State Street Corp lifted its position in shares of Citizens Financial Group by 6.7% during the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after buying an additional 1,615,144 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Citizens Financial Group during the fourth quarter valued at approximately $56,483,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Citizens Financial Group by 31.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock worth $155,051,000 after purchasing an additional 839,041 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stephens reissued an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday, January 21st. Compass Point upped their target price on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley cut their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, Truist Financial reduced their target price on shares of Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Citizens Financial Group Stock Up 1.9 %

Shares of NYSE:CFG opened at $41.01 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 12-month low of $32.06 and a 12-month high of $49.25. The company has a fifty day simple moving average of $44.53 and a 200 day simple moving average of $44.17. The firm has a market cap of $17.92 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.10%. The ex-dividend date was Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 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.