Tredje AP fonden Decreases Stake in Citizens Financial Group, Inc. $CFG

Tredje AP fonden lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 29.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,201 shares of the bank’s stock after selling 14,828 shares during the quarter. Tredje AP fonden’s holdings in Citizens Financial Group were worth $1,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ninety One UK Ltd acquired a new stake in shares of Citizens Financial Group in the 3rd quarter worth approximately $308,946,000. Norges Bank purchased a new position in shares of Citizens Financial Group in the second quarter valued at $253,423,000. HoldCo Asset Management LP acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth $93,361,000. Marshall Wace LLP purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $67,492,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Citizens Financial Group in the 3rd quarter worth about $60,434,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of CFG opened at $65.27 on Monday. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $68.79. The company’s 50 day simple moving average is $62.17 and its 200 day simple moving average is $55.52. The company has a market capitalization of $27.74 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.53 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its quarterly 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. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $0.85 EPS. Citizens Financial Group’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 annualized dividend and a yield of 2.8%. Citizens Financial Group’s dividend payout ratio is 47.55%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CFG. DA Davidson raised their target price on shares of Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Truist Financial increased their price target on shares of Citizens Financial Group from $63.00 to $71.00 and gave the company a “hold” rating in a research report on Monday, January 26th. New Street Research set a $73.00 price objective on shares of Citizens Financial Group in a research note on Thursday, January 22nd. Bank of America upped their target price on Citizens Financial Group from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, TD Cowen increased their target price on Citizens Financial Group from $75.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus price target of $68.77.

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.