Bridgewater Associates LP Invests $2.88 Million in Citizens Financial Group, Inc. (NYSE:CFG)

Bridgewater Associates LP acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 65,813 shares of the bank's stock, valued at approximately $2,880,000.

Other institutional investors have also made changes to their positions in the company. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Citizens Financial Group in the fourth quarter worth $8,134,000. BTC Capital Management Inc. increased its holdings in Citizens Financial Group by 19.8% during the fourth quarter. BTC Capital Management Inc. now owns 42,999 shares of the bank's stock worth $1,882,000 after buying an additional 7,119 shares during the last quarter. Patton Fund Management Inc. acquired a new position in Citizens Financial Group during the fourth quarter worth $6,694,000. AEGON ASSET MANAGEMENT UK Plc increased its holdings in Citizens Financial Group by 46.8% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,152,151 shares of the bank's stock worth $50,430,000 after buying an additional 367,439 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Citizens Financial Group by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank's stock worth $217,781,000 after buying an additional 805,758 shares during the last quarter. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Performance

Shares of CFG stock traded up $1.03 on Wednesday, hitting $36.85. The company's stock had a trading volume of 1,589,741 shares, compared to its average volume of 4,785,394. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The stock's 50 day moving average is $40.45 and its 200-day moving average is $43.53. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $49.25. The company has a market capitalization of $16.11 billion, a PE ratio of 12.16, a PEG ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.56%. Citizens Financial Group's dividend payout ratio is 53.33%.

Wall Street Analyst Weigh In

CFG has been the topic of a number of recent analyst reports. Piper Sandler lowered their target price on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays lowered their target price on shares of Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Raymond James restated a "strong-buy" rating and set a $48.00 target price (down from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. Citigroup lowered their target price on shares of Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, The Goldman Sachs Group decreased their price objective on shares of Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.82.

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.