Capital International Investors Raises Stock Holdings in Citizens Financial Group, Inc. $CFG

Capital International Investors raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,000,750 shares of the bank’s stock after buying an additional 1,953,372 shares during the quarter. Capital International Investors’ holdings in Citizens Financial Group were worth $467,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFG. Norges Bank purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth approximately $355,909,000. Alyeska Investment Group L.P. purchased a new stake in shares of Citizens Financial Group during the third quarter worth approximately $87,173,000. Zurich Insurance Group Ltd FI raised its stake in shares of Citizens Financial Group by 326.3% during the third quarter. Zurich Insurance Group Ltd FI now owns 2,082,961 shares of the bank’s stock worth $110,730,000 after purchasing an additional 1,594,326 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of Citizens Financial Group by 160.4% during the fourth quarter. Artemis Investment Management LLP now owns 2,448,050 shares of the bank’s stock worth $142,991,000 after purchasing an additional 1,508,070 shares during the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of Citizens Financial Group by 411.6% during the fourth quarter. Impax Asset Management Group plc now owns 1,729,587 shares of the bank’s stock worth $101,025,000 after purchasing an additional 1,391,483 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Activity

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at $9,632,956.84. This trade represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 SEC filing for this sale provides additional information. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CFG. Morgan Stanley cut their price objective on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Evercore reiterated an “outperform” rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Truist Financial increased their price objective on Citizens Financial Group from $63.00 to $69.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. 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. Nineteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.88.

Citizens Financial Group Stock Up 0.2%

Shares of NYSE:CFG opened at $64.09 on Monday. The stock’s 50-day moving average price is $62.84 and its two-hundred day moving average price is $60.88. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. Citizens Financial Group, Inc. has a 12-month low of $40.17 and a 12-month high of $68.79. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.51 and a beta of 0.68.

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

Citizens Financial Group Announces Dividend

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

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.