Citizens Financial Group, Inc. $CFG Shares Acquired by Capital World Investors

Key Points

• Capital World Investors raised its stake in Citizens Financial Group by 1.7% in Q3, buying 614,181 shares to hold 37,289,711 shares (~8.68%) valued at about $1.98 billion, and institutional investors now own roughly 94.9% of the stock.
• Citizens beat quarterly EPS estimates ($1.13 vs. $1.11) with revenue up 8.6% year-over-year, paid a quarterly dividend of $0.46 (annualized yield ~3.2%), and carries a "Moderate Buy" analyst consensus with an average price target near $69.95.

Capital World Investors grew its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,289,711 shares of the bank's stock after purchasing an additional 614,181 shares during the quarter. Capital World Investors owned approximately 8.68% of Citizens Financial Group worth $1,982,532,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ninety One UK Ltd acquired a new stake in Citizens Financial Group during the third quarter valued at $308,946,000. Norges Bank purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $253,423,000. HoldCo Asset Management LP acquired a new stake in shares of Citizens Financial Group during the 2nd quarter valued at about $93,361,000. Marshall Wace LLP purchased a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $67,492,000. Finally, Synergy Asset Management LLC acquired a new position in Citizens Financial Group in the 3rd quarter worth about $60,434,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Up 0.3%

Shares of CFG stock opened at $58.19 on Tuesday. The stock's fifty day moving average is $62.51 and its two-hundred day moving average is $56.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market capitalization of $24.73 billion, a P/E ratio of 15.04, a PEG ratio of 0.47 and a beta of 0.70. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $68.79.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders 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 3.2%. The ex-dividend date of this dividend was Wednesday, February 4th. Citizens Financial Group's dividend payout ratio (DPR) is 47.55%.

Analysts Set New Price Targets

CFG has been the topic of a number of recent analyst reports. Citigroup increased their price target on Citizens Financial Group from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Royal Bank Of Canada upped their target price on Citizens Financial Group from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a "buy" rating and set a $80.00 target price on shares of Citizens Financial Group in a research report on Wednesday, January 21st. Truist Financial lifted their price target on shares of Citizens Financial Group from $63.00 to $71.00 and gave the company a "hold" rating in a research note on Monday, January 26th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, March 3rd. Twenty investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.95.

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.

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