Citigroup Inc. Purchases 119,041 Shares of Citizens Financial Group, Inc. $CFG

Citigroup Inc. increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 26.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 565,589 shares of the bank’s stock after purchasing an additional 119,041 shares during the period. Citigroup Inc. owned approximately 0.13% of Citizens Financial Group worth $30,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CFG. Envestnet Asset Management Inc. lifted its position in Citizens Financial Group by 25.7% during the third quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank’s stock worth $36,553,000 after purchasing an additional 140,641 shares during the period. National Pension Service raised its position in shares of Citizens Financial Group by 33.5% in the 3rd quarter. National Pension Service now owns 135,208 shares of the bank’s stock valued at $7,188,000 after buying an additional 33,923 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Citizens Financial Group by 37.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock worth $25,284,000 after acquiring an additional 129,995 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Citizens Financial Group by 5.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock worth $38,315,000 after acquiring an additional 42,971 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new stake in shares of Citizens Financial Group during the 3rd quarter worth approximately $60,434,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $63.04 on Thursday. The company’s 50 day moving average price is $62.41 and its two-hundred day moving average price is $55.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $68.79. The stock has a market cap of $26.79 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.50 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm posted $0.85 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were paid a dividend of $0.46 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 annualized dividend and a dividend yield of 2.9%. Citizens Financial Group’s dividend payout ratio is presently 47.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup raised their target price on Citizens Financial Group from $65.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Weiss Ratings upgraded shares of Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. TD Cowen upped their price target on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Morgan Stanley boosted their price objective on Citizens Financial Group from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.77.

About Citizens Financial Group

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.