M&G Plc Makes New $8.62 Million Investment in Citizens Financial Group, Inc. (NYSE:CFG)

M&G Plc acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 239,510 shares of the bank’s stock, valued at approximately $8,622,000. M&G Plc owned 0.05% of Citizens Financial Group as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new position in Citizens Financial Group during the fourth quarter worth $33,000. Quarry LP grew its holdings in shares of Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after buying an additional 714 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth $40,000. Blue Trust Inc. grew its holdings in shares of Citizens Financial Group by 77.6% during the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after buying an additional 574 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Citizens Financial Group during the first quarter worth $68,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Up 0.6 %

Shares of NYSE CFG traded up $0.25 during midday trading on Friday, hitting $41.00. The company’s stock had a trading volume of 5,799,130 shares, compared to its average volume of 5,611,291. The business’s fifty day simple moving average is $35.89 and its two-hundred day simple moving average is $34.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $41.94. The firm has a market capitalization of $18.66 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the previous year, the business posted $0.92 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

Analyst Upgrades and Downgrades

CFG has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Citizens Financial Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup upped their price objective on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a report on Friday, April 19th. UBS Group upped their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Wedbush dropped their price objective on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Finally, Evercore ISI upped their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Hold” and a consensus price target of $41.13.

Citizens Financial Group Profile

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.