Citizens Financial Group, Inc. $CFG Shares Acquired by Allstate Corp

Allstate Corp lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 103.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,168 shares of the bank’s stock after acquiring an additional 16,361 shares during the period. Allstate Corp’s holdings in Citizens Financial Group were worth $1,879,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CFG. AA Financial Advisors LLC lifted its position in Citizens Financial Group by 3.9% during 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 during the period. Inscription Capital LLC lifted its position in Citizens Financial Group by 1.6% during the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after buying an additional 175 shares during the period. Grove Bank & Trust lifted its position in Citizens Financial Group by 19.8% during the fourth quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock worth $65,000 after buying an additional 183 shares during the period. MGO One Seven LLC raised its holdings in shares of Citizens Financial Group by 3.7% in the 4th quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock worth $308,000 after purchasing an additional 187 shares during the period. Finally, CRA Financial Services LLC raised its holdings in shares of Citizens Financial Group by 4.6% in the 4th quarter. CRA Financial Services LLC now owns 4,477 shares of the bank’s stock worth $262,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of CFG opened at $62.38 on Friday. The firm has a market cap of $26.38 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.50 and a beta of 0.70. Citizens Financial Group, Inc. has a 52 week low of $39.40 and a 52 week 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 0.51. The stock has a 50 day moving average of $62.28 and a 200-day moving average of $60.43.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. As a group, analysts forecast that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.9%. Citizens Financial Group’s dividend payout ratio (DPR) is 43.50%.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price objective on shares of Citizens Financial Group in a report on Tuesday, March 3rd. Citigroup reiterated a “buy” rating on shares of Citizens Financial Group in a report on Friday, May 8th. DA Davidson raised their target price on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 20th. Morgan Stanley dropped their target price on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Finally, Evercore reiterated an “outperform” rating and set a $75.00 target price on shares of Citizens Financial Group in a report on Tuesday, April 21st. Nineteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus target price of $70.88.

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Susan Lamonica sold 13,258 shares of Citizens Financial Group stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the sale, the insider directly owned 165,971 shares in the company, valued at $9,632,956.84. The trade was a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.67% of the company’s stock.

About Citizens Financial Group

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.