Assetmark Inc. Has $88.87 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Assetmark Inc. lessened its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,671,784 shares of the bank’s stock after selling 18,670 shares during the quarter. Assetmark Inc. owned 0.39% of Citizens Financial Group worth $88,872,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ninety One UK Ltd bought a new stake in shares of Citizens Financial Group during the third quarter worth approximately $308,946,000. Norges Bank acquired a new stake in shares of Citizens Financial Group in the 2nd quarter valued at approximately $253,423,000. HoldCo Asset Management LP bought a new position in Citizens Financial Group during the 2nd quarter worth approximately $93,361,000. Marshall Wace LLP acquired a new position in Citizens Financial Group during the second quarter valued at approximately $67,492,000. Finally, Synergy Asset Management LLC bought a new stake in Citizens Financial Group in the third quarter valued at approximately $60,434,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 3.2%

Citizens Financial Group stock opened at $64.72 on Friday. The company has a market cap of $27.80 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 0.54 and a beta of 0.72. The firm has a 50-day moving average of $61.23 and a 200-day moving average of $54.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $68.79.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.89% and a net margin of 15.19%.The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. Citizens Financial Group’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio is presently 47.55%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CFG. Raymond James Financial lowered shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $62.00 to $66.00 in a report on Wednesday, January 7th. Weiss Ratings lowered Citizens Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 3rd. TD Cowen increased their price target on Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. New Street Research set a $73.00 price target on Citizens Financial Group in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.77.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.