Citizens Financial Group, Inc. $CFG Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.2% in the first quarter, HoldingsChannel reports. The fund owned 827,813 shares of the bank’s stock after buying an additional 25,504 shares during the quarter. California Public Employees Retirement System’s holdings in Citizens Financial Group were worth $49,644,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Heartland Bank & Trust Co boosted its position in shares of Citizens Financial Group by 3.3% in the first quarter. Heartland Bank & Trust Co now owns 9,582 shares of the bank’s stock worth $575,000 after acquiring an additional 303 shares during the last quarter. Kera Capital Partners Inc. increased its position in Citizens Financial Group by 2.3% during the first quarter. Kera Capital Partners Inc. now owns 12,656 shares of the bank’s stock worth $759,000 after purchasing an additional 284 shares during the last quarter. Assetmark Inc. raised its stake in Citizens Financial Group by 6.6% during the first quarter. Assetmark Inc. now owns 1,788,249 shares of the bank’s stock worth $107,241,000 after purchasing an additional 111,135 shares during the period. Angeles Wealth Management LLC raised its stake in Citizens Financial Group by 15.1% during the first quarter. Angeles Wealth Management LLC now owns 4,046 shares of the bank’s stock worth $243,000 after purchasing an additional 532 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Citizens Financial Group by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 513,090 shares of the bank’s stock valued at $31,078,000 after purchasing an additional 8,495 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Down 1.2%

Shares of Citizens Financial Group stock opened at $71.55 on Tuesday. Citizens Financial Group, Inc. has a twelve month low of $45.90 and a twelve month high of $74.70. The stock has a market cap of $30.26 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.60 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $66.61 and a 200 day moving average price of $63.71.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. Equities research analysts forecast that Citizens Financial Group, Inc. will post 5.25 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be paid a $0.46 dividend. The ex-dividend date is Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.

Insider Activity

In related news, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the subject of a number of research analyst reports. Barclays upped their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group lifted their target price on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Evercore reissued an “outperform” rating and set a $80.00 price target on shares of Citizens Financial Group in a research report on Monday, July 6th. Robert W. Baird upped their price target on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Truist Financial raised their price objective on Citizens Financial Group from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Wednesday, June 24th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.15.

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.