Allspring Global Investments Holdings LLC Buys 25,180 Shares of Citizens Financial Group, Inc. $CFG

Allspring Global Investments Holdings LLC lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 504,595 shares of the bank’s stock after buying an additional 25,180 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of Citizens Financial Group worth $29,968,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Capital World Investors lifted its stake in Citizens Financial Group by 1.7% during the 3rd quarter. Capital World Investors now owns 37,289,711 shares of the bank’s stock valued at $1,982,532,000 after acquiring an additional 614,181 shares in the last quarter. Invesco Ltd. grew its stake in shares of Citizens Financial Group by 1.7% in the 3rd quarter. Invesco Ltd. now owns 24,064,513 shares of the bank’s stock worth $1,279,270,000 after acquiring an additional 393,158 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Citizens Financial Group by 7.5% in the 4th quarter. Nordea Investment Management AB now owns 7,220,986 shares of the bank’s stock worth $423,222,000 after acquiring an additional 505,614 shares in the last quarter. Capital International Investors raised its holdings in shares of Citizens Financial Group by 2.3% in the third quarter. Capital International Investors now owns 6,047,378 shares of the bank’s stock valued at $321,534,000 after purchasing an additional 138,688 shares during the last quarter. Finally, Ninety One UK Ltd bought a new position in shares of Citizens Financial Group during the third quarter valued at about $308,946,000. Institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CFG shares. The Goldman Sachs Group restated a “buy” rating and set a $73.00 price target on shares of Citizens Financial Group in a report on Tuesday, January 6th. Truist Financial dropped their target price on shares of Citizens Financial Group from $71.00 to $63.00 and set a “hold” rating on the stock in a research report on Monday, March 23rd. Robert W. Baird upgraded Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Monday, March 9th. Argus increased their price target on Citizens Financial Group from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 21st. Twenty equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.27.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $60.98 on Friday. The stock has a fifty day simple moving average of $61.60 and a two-hundred day simple moving average of $57.22. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $68.79. The firm has a market cap of $25.91 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 0.50 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46.

Citizens Financial Group (NYSE:CFG) last issued 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, February 4th. Citizens Financial Group’s payout ratio is currently 47.55%.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the transaction, the insider owned 165,971 shares in the company, valued at $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.67% of the company’s stock.

Citizens Financial Group Company 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.