Pinebridge Investments L.P. Sells 21,905 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Pinebridge Investments L.P. decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 7.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 280,430 shares of the bank's stock after selling 21,905 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.06% of Citizens Financial Group worth $12,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors grew its stake in shares of Citizens Financial Group by 3.3% during the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock worth $1,570,989,000 after acquiring an additional 1,131,838 shares during the period. Geode Capital Management LLC grew its stake in shares of Citizens Financial Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank's stock worth $477,043,000 after acquiring an additional 124,860 shares during the period. Wellington Management Group LLP grew its stake in shares of Citizens Financial Group by 27.8% during the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock worth $462,547,000 after acquiring an additional 2,298,040 shares during the period. Norges Bank purchased a new stake in Citizens Financial Group during the 4th quarter worth about $243,431,000. Finally, Nordea Investment Management AB lifted its holdings in Citizens Financial Group by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank's stock worth $217,781,000 after purchasing an additional 805,758 shares in the last quarter. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Price Performance

Shares of NYSE CFG traded up $0.11 during trading hours on Tuesday, reaching $37.45. 845,444 shares of the stock traded hands, compared to its average volume of 4,781,459. The company's 50-day simple moving average is $39.67 and its two-hundred day simple moving average is $43.42. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $49.25. The company has a market capitalization of $16.37 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted 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. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Equities research analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.49%. Citizens Financial Group's payout ratio is 53.33%.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of recent research reports. Truist Financial dropped their price objective on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Argus set a $45.00 price objective on Citizens Financial Group in a report on Thursday. DA Davidson dropped their price objective on Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Raymond James reissued a "strong-buy" rating and set a $48.00 price objective (down previously from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. Finally, The Goldman Sachs Group dropped their price objective on Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Citizens Financial Group currently has an average rating of "Moderate Buy" and an average price target of $46.18.

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.