Assetmark Inc. Sells 18,670 Shares of Citizens Financial Group, Inc. $CFG

Assetmark Inc. reduced its position in Citizens Financial Group, Inc. (NYSE:CFG) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,671,784 shares of the bank’s stock after selling 18,670 shares during the quarter. Assetmark Inc.’s holdings in Citizens Financial Group were worth $88,872,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Citizens Financial Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock valued at $2,306,817,000 after acquiring an additional 209,467 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Citizens Financial Group by 1.2% in the 2nd quarter. Invesco Ltd. now owns 23,671,355 shares of the bank’s stock valued at $1,059,293,000 after purchasing an additional 283,321 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Citizens Financial Group by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 6,715,372 shares of the bank’s stock valued at $353,430,000 after purchasing an additional 315,467 shares during the last quarter. LSV Asset Management increased its stake in shares of Citizens Financial Group by 14.5% in the 2nd quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock valued at $293,685,000 after purchasing an additional 833,399 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth $308,946,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $64.72 on Friday. The business has a 50-day moving average price of $61.23 and a two-hundred day moving average price of $54.71. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $68.79. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The company has a market cap of $27.80 billion, a P/E ratio of 16.72, a PEG ratio of 0.54 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.89% and a net margin of 15.19%.The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio is presently 47.55%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CFG shares. DA Davidson raised their price objective on Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Argus raised their price target on shares of Citizens Financial Group from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. New Street Research set a $73.00 price target on shares of Citizens Financial Group in a report on Thursday, January 22nd. Finally, Truist Financial upped their price objective on shares of Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $68.77.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.