Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 50,964.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,066 shares of the bank’s stock after buying an additional 266,543 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.06% of Citizens Financial Group worth $9,550,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Vantage Consulting Group Inc purchased a new stake in Citizens Financial Group in the fourth quarter worth about $27,000. Reby Advisors LLC purchased a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $31,000. Regent Peak Wealth Advisors LLC bought a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $34,000. Perigon Wealth Management LLC purchased a new position in Citizens Financial Group during the fourth quarter valued at approximately $40,000. Finally, NuWave Investment Management LLC raised its stake in Citizens Financial Group by 1,269.4% in the fourth quarter. NuWave Investment Management LLC now owns 1,479 shares of the bank’s stock worth $53,000 after buying an additional 1,371 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.
Shares of NYSE CFG opened at $44.99 on Thursday. Citizens Financial Group, Inc. has a 52 week low of $17.15 and a 52 week high of $47.56. The business’s 50 day moving average price is $44.16 and its 200 day moving average price is $35.98. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a market cap of $19.13 billion, a P/E ratio of 20.27 and a beta of 1.87.
Citizens Financial Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 20th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the bank to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 17th. Shareholders of record on Wednesday, February 3rd were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.47%. The ex-dividend date was Tuesday, February 2nd. Citizens Financial Group’s payout ratio is 40.63%.
CFG has been the subject of several recent research reports. UBS Group lowered Citizens Financial Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 12th. Royal Bank of Canada increased their price target on shares of Citizens Financial Group from $29.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, January 21st. They noted that the move was a valuation call. Wedbush lifted their price target on shares of Citizens Financial Group from $44.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 21st. Credit Suisse Group upped their price target on Citizens Financial Group from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, January 21st. Finally, Argus raised their price objective on Citizens Financial Group from $34.00 to $47.00 in a research report on Thursday, January 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $43.63.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment offers traditional banking products and services, including checking and savings accounts, home and education loans, credit cards, business loans, mortgage and home equity lending, and unsecured product finance and personal loans, as well as wealth management and investment services to retail customers and small businesses.
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