Citizens Financial Group, Inc. (NYSE:CFG) Stake Reduced by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 733,900 shares of the bank's stock after selling 137,212 shares during the period. Rafferty Asset Management LLC owned about 0.17% of Citizens Financial Group worth $32,115,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CFG. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Citizens Financial Group in the fourth quarter worth about $8,134,000. BTC Capital Management Inc. increased its position in shares of Citizens Financial Group by 19.8% in the 4th 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 last quarter. Patton Fund Management Inc. acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at about $6,694,000. AEGON ASSET MANAGEMENT UK Plc lifted its position in shares of Citizens Financial Group by 46.8% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,152,151 shares of the bank's stock worth $50,430,000 after purchasing an additional 367,439 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in shares of Citizens Financial Group during the fourth quarter worth about $421,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CFG. TD Cowen started coverage on Citizens Financial Group in a report on Thursday. They issued a "buy" rating and a $57.00 price objective for the company. Truist Financial lowered their price target on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada reduced their price objective on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Cowen initiated coverage on shares of Citizens Financial Group in a research note on Wednesday. They set a "buy" rating for the company. Finally, Piper Sandler reduced their price target on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.78.

Citizens Financial Group Stock Performance

Shares of NYSE CFG traded down $0.26 during midday trading on Monday, reaching $41.56. 2,801,266 shares of the company traded hands, compared to its average volume of 4,827,682. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $49.25. The stock has a 50-day moving average price of $38.49 and a 200 day moving average price of $43.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $18.17 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.81 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. Sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid 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 4.04%. Citizens Financial Group's payout ratio is 53.33%.

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.