Allspring Global Investments Holdings LLC Reduces Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Allspring Global Investments Holdings LLC cut its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 370,702 shares of the bank’s stock after selling 24,930 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Citizens Financial Group worth $12,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital World Investors raised its position in shares of Citizens Financial Group by 76.0% during the 1st quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock valued at $861,383,000 after buying an additional 8,203,831 shares during the period. Wellington Management Group LLP raised its position in Citizens Financial Group by 217.5% in the third quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after purchasing an additional 5,465,824 shares during the period. Norges Bank acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at $192,928,000. AQR Capital Management LLC grew its holdings in shares of Citizens Financial Group by 1,213.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,746,064 shares of the bank’s stock worth $100,395,000 after purchasing an additional 3,460,792 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Citizens Financial Group by 18.0% during the 4th quarter. Morgan Stanley now owns 18,297,989 shares of the bank’s stock worth $720,392,000 after purchasing an additional 2,785,751 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total transaction of $151,198.32. Following the completion of the sale, the insider now owns 43,885 shares in the company, valued at approximately $1,471,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Evercore ISI upped their target price on shares of Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Barclays downgraded shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $38.00 to $40.00 in a report on Tuesday, January 2nd. The Goldman Sachs Group upped their price target on Citizens Financial Group from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. UBS Group lifted their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Royal Bank of Canada increased their target price on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Hold” and an average price target of $35.88.

Citizens Financial Group Price Performance

Shares of CFG opened at $32.99 on Tuesday. The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of 10.61 and a beta of 1.38. The firm’s fifty day simple moving average is $33.20 and its 200-day simple moving average is $30.50. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $36.38. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, January 17th. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.26). The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2 billion. Citizens Financial Group had a net margin of 13.19% and a return on equity of 7.40%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. Equities analysts forecast that Citizens Financial Group, Inc. will post 3.23 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date was Tuesday, January 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 54.02%.

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.