AIA Group Ltd Cuts Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

AIA Group Ltd cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 20.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,932 shares of the bank’s stock after selling 6,326 shares during the quarter. AIA Group Ltd’s holdings in Citizens Financial Group were worth $1,047,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. My Legacy Advisors LLC raised its position in Citizens Financial Group by 1.0% in the fourth quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank’s stock worth $1,074,000 after acquiring an additional 229 shares during the period. Brooklyn Investment Group lifted its stake in Citizens Financial Group by 3.3% in the fourth quarter. Brooklyn Investment Group now owns 7,304 shares of the bank’s stock valued at $320,000 after purchasing an additional 233 shares during the last quarter. 1620 Investment Advisors Inc. grew its holdings in Citizens Financial Group by 3.2% during the fourth quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank’s stock valued at $338,000 after purchasing an additional 238 shares during the period. SeaCrest Wealth Management LLC increased its position in Citizens Financial Group by 0.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank’s stock worth $1,257,000 after buying an additional 246 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Citizens Financial Group by 3.3% in the fourth quarter. Ballentine Partners LLC now owns 7,777 shares of the bank’s stock valued at $340,000 after buying an additional 247 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CFG has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Piper Sandler raised their price objective on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Compass Point boosted their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Raymond James reaffirmed a “strong-buy” rating and issued a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Finally, Truist Financial reduced their target price on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a report on Friday, March 21st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.67.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $41.01 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 1-year low of $32.06 and a 1-year high of $49.25. The firm has a market cap of $17.92 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.81 and a beta of 1.06. The firm has a 50-day moving average of $44.53 and a 200-day moving average of $44.17.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. Citizens Financial Group’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.42 per share. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.10%. Citizens Financial Group’s dividend payout ratio is presently 55.45%.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.