Schroder Investment Management Group Trims Stock Position in Citizens Financial Group, Inc. $CFG

Schroder Investment Management Group lessened its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 524,107 shares of the bank’s stock after selling 16,962 shares during the period. Schroder Investment Management Group owned about 0.12% of Citizens Financial Group worth $28,118,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CFG. Vanguard Group Inc. raised its position in Citizens Financial Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock worth $2,306,817,000 after acquiring an additional 209,467 shares during the period. Invesco Ltd. grew its position in shares of Citizens Financial Group by 1.2% during the 2nd quarter. Invesco Ltd. now owns 23,671,355 shares of the bank’s stock valued at $1,059,293,000 after acquiring an additional 283,321 shares during the period. Nordea Investment Management AB increased its stake in shares of Citizens Financial Group by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 6,715,372 shares of the bank’s stock worth $353,430,000 after purchasing an additional 315,467 shares in the last quarter. LSV Asset Management increased its stake in shares of Citizens Financial Group by 14.5% in the 2nd quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock worth $293,685,000 after purchasing an additional 833,399 shares in the last quarter. Finally, Ninety One UK Ltd bought a new position in Citizens Financial Group in the 3rd quarter worth $308,946,000. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CFG. Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price target on shares of Citizens Financial Group in a report on Tuesday, March 3rd. TD Cowen raised their price objective on Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Evercore boosted their price objective on Citizens Financial Group from $69.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Citigroup increased their target price on shares of Citizens Financial Group from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Bank of America raised their target price on shares of Citizens Financial Group from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Twenty analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.95.

Insider Activity at Citizens Financial Group

In related news, insider Susan Lamonica sold 13,258 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was 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 approximately $9,632,956.84. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Citizens Financial Group Price Performance

CFG stock opened at $56.89 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. The company’s fifty day moving average price is $62.48 and its 200-day moving average price is $56.57. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $68.79. The company has a market capitalization of $24.18 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.48 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.02. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. Citizens Financial Group’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, February 4th. Citizens Financial Group’s payout ratio is 47.55%.

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.