Panagora Asset Management Inc. Has $11.77 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Panagora Asset Management Inc. lowered its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 355,017 shares of the bank's stock after selling 112,478 shares during the period. Panagora Asset Management Inc. owned approximately 0.08% of Citizens Financial Group worth $11,765,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CFG. Meeder Asset Management Inc. acquired a new position in Citizens Financial Group during the fourth quarter worth $1,959,000. Alps Advisors Inc. grew its holdings in Citizens Financial Group by 32.5% during the third quarter. Alps Advisors Inc. now owns 12,212 shares of the bank's stock worth $327,000 after acquiring an additional 2,992 shares during the period. ANTIPODES PARTNERS Ltd grew its holdings in Citizens Financial Group by 49.9% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank's stock worth $42,970,000 after acquiring an additional 431,624 shares during the period. abrdn plc grew its holdings in Citizens Financial Group by 66.0% during the fourth quarter. abrdn plc now owns 199,260 shares of the bank's stock worth $6,603,000 after acquiring an additional 79,247 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in Citizens Financial Group during the fourth quarter worth $204,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Citizens Financial Group Stock Up 1.8 %

NYSE CFG traded up $0.64 during mid-day trading on Friday, reaching $37.16. 5,027,719 shares of the company's stock traded hands, compared to its average volume of 3,870,167. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $37.28. The company has a fifty day simple moving average of $34.83 and a 200-day simple moving average of $32.14. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market cap of $16.91 billion, a price-to-earnings ratio of 13.46 and a beta of 1.12.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business earned $1.00 EPS. The company's quarterly revenue was down 7.9% on a year-over-year basis. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 3.16 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group's dividend payout ratio (DPR) is 60.87%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CFG shares. Argus upped their target price on Citizens Financial Group from $36.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Citigroup upped their target price on Citizens Financial Group from $39.00 to $43.00 and gave the company a "buy" rating in a report on Friday, April 19th. StockNews.com upgraded Citizens Financial Group from a "sell" rating to a "hold" rating in a research report on Sunday, May 5th. Jefferies Financial Group upped their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the company a "hold" rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company a "market perform" rating in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $37.73.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 6,327 shares of the firm's stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the sale, the insider now owns 37,558 shares of the company's stock, valued at approximately $1,265,704.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.62% of the company's stock.

About Citizens Financial Group

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.