Shell Asset Management Co. Reduces Holdings in Citizens Financial Group, Inc. $CFG

Shell Asset Management Co. lessened its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 35.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,141 shares of the bank’s stock after selling 18,996 shares during the quarter. Shell Asset Management Co.’s holdings in Citizens Financial Group were worth $1,815,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Citizens Financial Group by 25.7% in the third quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank’s stock valued at $36,553,000 after purchasing an additional 140,641 shares during the period. National Pension Service boosted its position in Citizens Financial Group by 33.5% in the 3rd quarter. National Pension Service now owns 135,208 shares of the bank’s stock valued at $7,188,000 after buying an additional 33,923 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Citizens Financial Group by 37.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock worth $25,284,000 after acquiring an additional 129,995 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Citizens Financial Group by 5.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock worth $38,315,000 after acquiring an additional 42,971 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in shares of Citizens Financial Group in the third quarter valued at $60,434,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 0.5%

CFG stock opened at $65.09 on Monday. The company’s 50 day moving average is $61.42 and its two-hundred day moving average is $54.90. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month 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 0.46. The stock has a market cap of $27.66 billion, a P/E ratio of 16.82, a PEG ratio of 0.53 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $0.85 EPS. Citizens Financial Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research 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 announced a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.8%. Citizens Financial Group’s dividend payout ratio is 47.55%.

Analysts Set New Price Targets

Several research firms recently commented on CFG. Truist Financial boosted their target price on Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Argus lifted their price objective on Citizens Financial Group from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. DA Davidson upped their target price on shares of Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of Citizens Financial Group in a research note on Wednesday, January 21st. Finally, Robert W. Baird reissued a “neutral” rating and issued a $60.00 price objective on shares of Citizens Financial Group in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.77.

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.