CANADA LIFE ASSURANCE Co Grows Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

CANADA LIFE ASSURANCE Co increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 85.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,406 shares of the bank's stock after purchasing an additional 264,675 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.13% of Citizens Financial Group worth $25,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Citizens Financial Group during the third quarter worth about $453,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Citizens Financial Group during the third quarter worth $89,000. Tidal Investments LLC grew its stake in shares of Citizens Financial Group by 292.2% in the third quarter. Tidal Investments LLC now owns 69,851 shares of the bank's stock worth $2,869,000 after purchasing an additional 52,039 shares during the last quarter. Franklin Resources Inc. increased its holdings in Citizens Financial Group by 4.8% in the third quarter. Franklin Resources Inc. now owns 655,600 shares of the bank's stock valued at $28,368,000 after purchasing an additional 29,940 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Citizens Financial Group in the third quarter valued at about $590,000. Institutional investors own 94.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CFG shares. Barclays decreased their target price on shares of Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group decreased their price target on Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Stephens dropped their price objective on Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. Raymond James reaffirmed a "strong-buy" rating and set a $48.00 target price (down previously from $58.00) on shares of Citizens Financial Group in a research note on Thursday, April 17th. Finally, Piper Sandler dropped their price target on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.18.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock traded down $0.23 on Friday, hitting $37.21. 943,143 shares of the company traded hands, compared to its average volume of 4,778,477. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $49.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market cap of $16.27 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.81 and a beta of 0.81. The firm's 50-day simple moving average is $40.07 and its 200 day simple moving average is $43.46.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Wednesday, April 30th. Citizens Financial Group's payout ratio is currently 53.33%.

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.