USS Investment Management Ltd lessened its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,158 shares of the bank's stock after selling 27,407 shares during the period. USS Investment Management Ltd's holdings in Citizens Financial Group were worth $2,239,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BTC Capital Management Inc. lifted its position in Citizens Financial Group by 19.8% in the fourth quarter. BTC Capital Management Inc. now owns 42,999 shares of the bank's stock worth $1,882,000 after purchasing an additional 7,119 shares during the period. Patton Fund Management Inc. bought a new position in shares of Citizens Financial Group in the fourth quarter valued at about $6,694,000. AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of Citizens Financial Group by 46.8% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,152,151 shares of the bank's stock valued at $50,430,000 after buying an additional 367,439 shares during the last quarter. SVB Wealth LLC acquired a new stake in Citizens Financial Group in the fourth quarter worth about $421,000. Finally, Arvest Bank Trust Division acquired a new position in shares of Citizens Financial Group during the 4th quarter worth about $2,196,000. Institutional investors and hedge funds own 94.90% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Royal Bank of Canada cut their price objective on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Citigroup decreased their target price on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a report on Monday, March 24th. TD Cowen started coverage on Citizens Financial Group in a report on Thursday, May 15th. They issued a "buy" rating and a $57.00 price objective on the stock. Raymond James reissued 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. Finally, Barclays reduced their target price on 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. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of "Moderate Buy" and an average target price of $47.50.
Check Out Our Latest Analysis on Citizens Financial Group
Citizens Financial Group Trading Up 2.2%
Citizens Financial Group stock traded up $0.88 during trading hours on Tuesday, hitting $40.45. The stock had a trading volume of 4,661,248 shares, compared to its average volume of 4,816,070. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market cap of $17.68 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 0.81 and a beta of 0.74. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $49.25. The business's 50 day simple moving average is $38.43 and its 200-day simple moving average is $42.98.
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 for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. On average, equities analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.
Citizens Financial Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.15%. Citizens Financial Group's payout ratio is currently 53.33%.
About Citizens Financial Group
(
Free Report)
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.
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