Point72 Asset Management L.P. Acquires New Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Point72 Asset Management L.P. acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,176,549 shares of the bank's stock, valued at approximately $51,486,000. Point72 Asset Management L.P. owned about 0.27% of Citizens Financial Group as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Ameliora Wealth Management Ltd. purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $28,000. Colonial Trust Co SC lifted its stake in shares of Citizens Financial Group by 673.0% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after buying an additional 774 shares during the period. Sierra Ocean LLC acquired a new position in Citizens Financial Group in the fourth quarter valued at $47,000. Finally, Duncker Streett & Co. Inc. acquired a new position in Citizens Financial Group in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Citizens Financial Group Stock Up 0.1%

NYSE CFG opened at $41.65 on Friday. The stock has a market cap of $18.21 billion, a PE ratio of 13.75, a P/E/G ratio of 0.81 and a beta of 0.74. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $49.25. The business has a 50 day moving average price of $38.45 and a two-hundred day moving average price of $43.14. 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 (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.03%. Citizens Financial Group's dividend payout ratio is presently 53.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada lowered their target price on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Piper Sandler lowered their target price on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup reduced 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. Finally, JPMorgan Chase & Co. reduced their target price on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.78.

Citizens Financial Group 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.

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