Tredje AP fonden Sells 50,028 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Tredje AP fonden reduced its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,029 shares of the bank’s stock after selling 50,028 shares during the period. Tredje AP fonden’s holdings in Citizens Financial Group were worth $2,189,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CFG. State Street Corp boosted its position in Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after acquiring an additional 1,615,144 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Citizens Financial Group by 207.2% in the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after purchasing an additional 5,579,313 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Citizens Financial Group by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after purchasing an additional 805,758 shares during the last quarter. Bank of New York Mellon Corp grew its position in Citizens Financial Group by 31.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock valued at $155,051,000 after purchasing an additional 839,041 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Citizens Financial Group by 11.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank’s stock valued at $129,150,000 after buying an additional 334,386 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $39.68 on Friday. The stock has a 50 day simple moving average of $45.54 and a 200 day simple moving average of $44.17. The stock has a market cap of $17.35 billion, a P/E ratio of 13.10, a PEG ratio of 0.81 and a beta of 1.06. Citizens Financial Group, Inc. has a 1-year low of $32.06 and a 1-year high of $49.25. 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 (NYSE:CFG) last posted its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.23%. Citizens Financial Group’s payout ratio is presently 55.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CFG. Compass Point raised their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler increased their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Barclays boosted their price target on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Raymond James reissued a “strong-buy” rating and issued a $58.00 price objective (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Finally, Stephens reissued an “overweight” rating and issued a $53.00 target price on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.22.

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.