Norges Bank Acquires New Holdings in Citizens Financial Group, Inc. $CFG

Norges Bank bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,093,287 shares of the bank's stock, valued at approximately $355,909,000. Norges Bank owned 1.42% of Citizens Financial Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CFG. Activest Wealth Management grew its position in shares of Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock worth $30,000 after buying an additional 504 shares during the period. State of Wyoming acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth approximately $39,000. Fortitude Family Office LLC grew its position in shares of Citizens Financial Group by 632.0% during the 4th quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock worth $41,000 after buying an additional 613 shares during the period. Kestra Investment Management LLC grew its position in shares of Citizens Financial Group by 2,703.0% during the 2nd quarter. Kestra Investment Management LLC now owns 925 shares of the bank's stock worth $41,000 after buying an additional 892 shares during the period. Finally, Elyxium Wealth LLC acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Citizens Financial Group Trading Down 2.5%

Shares of Citizens Financial Group stock opened at $60.73 on Tuesday. Citizens Financial Group, Inc. has a 52-week low of $39.40 and a 52-week high of $68.79. The stock's 50-day simple moving average is $62.47 and its 200 day simple moving average is $60.56. The stock has a market capitalization of $25.68 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.49 and a beta of 0.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The company's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.46 dividend. The ex-dividend date was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 3.0%. Citizens Financial Group's dividend payout ratio (DPR) is currently 43.50%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Evercore reissued an "outperform" rating and issued a $75.00 price target on shares of Citizens Financial Group in a research report on Tuesday, April 21st. Robert W. Baird raised shares of Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 price target for the company in a research report on Monday, March 9th. Weiss Ratings raised shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Finally, Citigroup reissued a "buy" rating on shares of Citizens Financial Group in a research report on Friday, May 8th. Nineteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Citizens Financial Group has a consensus rating of "Moderate Buy" and a consensus target price of $70.88.

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares of the company's stock, valued at $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Susan Lamonica sold 13,258 shares of the firm's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider directly owned 165,971 shares of the company's stock, valued at $9,632,956.84. This represents a 7.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.67% of the stock is currently owned by company insiders.

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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