Allspring Global Investments Holdings LLC Boosts Stock Position in Citizens Financial Group, Inc. $CFG

Allspring Global Investments Holdings LLC lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 5.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 504,595 shares of the bank’s stock after purchasing an additional 25,180 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Citizens Financial Group were worth $29,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. grew its holdings in Citizens Financial Group by 1.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 167,577 shares of the bank’s stock valued at $9,788,000 after buying an additional 2,198 shares in the last quarter. AA Financial Advisors LLC lifted its holdings in shares of Citizens Financial Group by 3.9% in the fourth quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock worth $272,000 after buying an additional 174 shares in the last quarter. Goelzer Investment Management Inc. lifted its holdings in shares of Citizens Financial Group by 1.0% in the fourth quarter. Goelzer Investment Management Inc. now owns 154,454 shares of the bank’s stock worth $9,022,000 after buying an additional 1,479 shares in the last quarter. Woodward Diversified Capital LLC boosted its position in shares of Citizens Financial Group by 4.2% in the fourth quarter. Woodward Diversified Capital LLC now owns 5,601 shares of the bank’s stock valued at $327,000 after acquiring an additional 228 shares during the period. Finally, Fairvoy Private Wealth LLC bought a new position in shares of Citizens Financial Group in the fourth quarter valued at approximately $229,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Susan Lamonica sold 13,258 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the transaction, the insider directly owned 165,971 shares of the company’s stock, valued at approximately $9,632,956.84. This trade represents a 7.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.67% of the company’s stock.

Citizens Financial Group Trading Up 0.7%

Shares of Citizens Financial Group stock opened at $60.98 on Friday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $68.79. The company has a 50 day simple moving average of $61.60 and a two-hundred day simple moving average of $57.22. The firm has a market cap of $25.91 billion, a PE ratio of 15.76, a PEG ratio of 0.50 and a beta of 0.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.85 and a quick ratio of 0.84.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 annualized dividend and a dividend yield of 3.0%. Citizens Financial Group’s dividend payout ratio is 47.55%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped 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. Evercore raised their price target on shares of Citizens Financial Group from $69.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. TD Cowen boosted their price target on shares of Citizens Financial Group from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $73.00 price target on shares of Citizens Financial Group in a report on Tuesday, January 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, March 3rd. Twenty investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.27.

Citizens Financial Group Company 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.