Causeway Capital Management LLC Has $57.95 Million Stock Position in Citizens Financial Group, Inc. $CFG

Causeway Capital Management LLC raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,090,060 shares of the bank’s stock after acquiring an additional 57,086 shares during the quarter. Citizens Financial Group makes up approximately 0.8% of Causeway Capital Management LLC’s holdings, making the stock its 26th biggest position. Causeway Capital Management LLC owned approximately 0.25% of Citizens Financial Group worth $57,948,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CFG. NewEdge Advisors LLC increased its stake in Citizens Financial Group by 2.4% in the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC raised its holdings in Citizens Financial Group by 6.7% in the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after acquiring an additional 554 shares during the period. Woodline Partners LP lifted its position in Citizens Financial Group by 39.5% during the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock worth $1,513,000 after acquiring an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after acquiring an additional 4,739 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its stake in shares of Citizens Financial Group by 5.9% during the second quarter. Resona Asset Management Co. Ltd. now owns 150,966 shares of the bank’s stock worth $6,748,000 after purchasing an additional 8,380 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings upgraded Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. New Street Research set a $73.00 target price on Citizens Financial Group in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of Citizens Financial Group from $62.50 to $71.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Morgan Stanley upped their price target on shares of Citizens Financial Group from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada raised their price target on shares of Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.95.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $58.19 on Tuesday. The stock’s 50 day moving average is $62.51 and its 200 day moving average is $56.50. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $68.79. The firm has a market cap of $24.73 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.47 and a beta of 0.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.85 and a quick ratio of 0.84.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (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 during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business earned $0.85 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

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

About Citizens Financial Group

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.