Arrowstreet Capital Limited Partnership Purchases 740,310 Shares of Citizens Financial Group, Inc. $CFG

Arrowstreet Capital Limited Partnership boosted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 939.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 819,099 shares of the bank’s stock after purchasing an additional 740,310 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.19% of Citizens Financial Group worth $36,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Trust Co. of Vermont boosted its holdings in shares of Citizens Financial Group by 177.5% in the second quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock worth $29,000 after buying an additional 410 shares during the last quarter. Investors Research Corp raised its position in Citizens Financial Group by 344.8% in the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after acquiring an additional 500 shares during the period. GoalVest Advisory LLC boosted its stake in shares of Citizens Financial Group by 16,900.0% during the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock worth $30,000 after acquiring an additional 676 shares during the last quarter. REAP Financial Group LLC grew its position in shares of Citizens Financial Group by 72.4% during the 2nd quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after acquiring an additional 309 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $55.54 on Friday. The stock has a 50-day moving average price of $52.09 and a 200 day moving average price of $48.76. The stock has a market capitalization of $23.86 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.59 and a beta of 0.74. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $56.17. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th were given a dividend of $0.46 per share. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.54%.

Analysts Set New Price Targets

CFG has been the topic of several analyst reports. Raymond James Financial set a $62.00 target price on Citizens Financial Group and gave the company a “strong-buy” rating in a research report on Tuesday, October 7th. UBS Group raised their price objective on Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. DA Davidson reaffirmed a “buy” rating and set a $59.00 price objective on shares of Citizens Financial Group in a research report on Thursday, October 16th. Citigroup increased their target price on shares of Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, Morgan Stanley raised shares of Citizens Financial Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $53.00 to $71.00 in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $56.57.

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.