California Public Employees Retirement System Purchases 69,371 Shares of Citizens Financial Group, Inc. $CFG

California Public Employees Retirement System lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 10.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 757,797 shares of the bank’s stock after purchasing an additional 69,371 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Citizens Financial Group worth $33,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Trust Co. of Vermont raised its position in shares of Citizens Financial Group by 177.5% during the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after buying an additional 410 shares in the last quarter. Investors Research Corp grew its position in Citizens Financial Group by 344.8% in the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after acquiring an additional 500 shares in the last quarter. GoalVest Advisory LLC increased its stake in Citizens Financial Group by 16,900.0% in the second quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock valued at $30,000 after acquiring an additional 676 shares during the last quarter. REAP Financial Group LLC raised its position in Citizens Financial Group by 72.4% during the second quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after purchasing an additional 309 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Citizens Financial Group during the second quarter worth about $45,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $58.52 on Thursday. The business’s fifty day moving average is $52.30 and its 200 day moving average is $49.17. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market cap of $25.14 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.59 and a beta of 0.74. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $58.76.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, October 29th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.1%. Citizens Financial Group’s dividend payout ratio is currently 51.54%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CFG. Weiss Ratings restated a “buy (b-)” rating on shares of Citizens Financial Group in a report on Monday. Morgan Stanley raised shares of Citizens Financial Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $53.00 to $71.00 in a research note on Monday, September 29th. Citigroup upped their price target on shares of Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, September 19th. UBS Group lifted their price objective on Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Cantor Fitzgerald assumed coverage on Citizens Financial Group in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $56.55.

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.