Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in Citizens Financial Group, Inc. (NYSE:CFG) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,751 shares of the bank’s stock after selling 4,042 shares during the period. Retirement Systems of Alabama’s holdings in Citizens Financial Group were worth $3,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CFG. Lindbrook Capital LLC grew its holdings in Citizens Financial Group by 100.8% during the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after acquiring an additional 496 shares during the period. Larson Financial Group LLC purchased a new position in Citizens Financial Group in the 4th quarter valued at approximately $33,000. CVA Family Office LLC acquired a new stake in Citizens Financial Group in the fourth quarter valued at $40,000. Blue Trust Inc. raised its stake in shares of Citizens Financial Group by 77.6% during the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after buying an additional 574 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC purchased a new position in Citizens Financial Group during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CFG. Royal Bank of Canada boosted their target price on shares of Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Piper Sandler raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $41.00 in a research note on Friday, April 26th. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. decreased their price objective on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Argus increased their target price on Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Hold” and a consensus target price of $37.73.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the sale, the insider now owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is owned by company insiders.

Citizens Financial Group Trading Down 0.5 %

Shares of CFG opened at $35.57 on Wednesday. The stock’s 50-day moving average is $34.24 and its two-hundred day moving average is $31.47. The stock has a market cap of $16.31 billion, a PE ratio of 12.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $36.38.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results 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 analyst estimates of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. Citizens Financial Group’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 earnings per share. Equities analysts forecast that Citizens Financial Group, Inc. will post 3.23 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.72%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Citizens Financial Group 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.