282,800 Citizens Financial Group, Inc. $CFG Shares Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1,334.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 304,000 shares of the bank’s stock after acquiring an additional 282,800 shares during the quarter. New Mexico Educational Retirement Board owned about 0.07% of Citizens Financial Group worth $19,383,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CFG. BlackRock Inc. purchased a new stake in Citizens Financial Group in the 2nd quarter worth $3,415,046,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Citizens Financial Group by 7,979.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock valued at $775,663,000 after purchasing an additional 12,014,785 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Citizens Financial Group by 1,252.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after purchasing an additional 8,523,938 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Citizens Financial Group by 4,682.2% during the third quarter. Commonwealth Equity Services LLC now owns 3,285,906 shares of the bank’s stock valued at $209,509,000 after purchasing an additional 3,217,195 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Citizens Financial Group during the second quarter valued at about $223,386,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Up 0.9%

Shares of NYSE CFG opened at $65.41 on Thursday. Citizens Financial Group, Inc. has a 1-year low of $49.00 and a 1-year high of $75.33. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day moving average is $65.65 and its two-hundred day moving average is $65.67. The stock has a market capitalization of $27.42 billion, a P/E ratio of 13.16, a PEG ratio of 0.59 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same period last year, the company earned $1.05 EPS. As a group, research analysts expect that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a $0.52 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s dividend payout ratio is 41.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CFG shares. Jefferies Financial Group reduced their target price on Citizens Financial Group from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Robert W. Baird raised their price target on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Morgan Stanley decreased their price objective on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. UBS Group decreased their price objective on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Finally, Truist Financial lowered their target price on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.79.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.