Canada Pension Plan Investment Board Boosts Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Canada Pension Plan Investment Board grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 28.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 979,020 shares of the bank’s stock after purchasing an additional 217,341 shares during the period. Canada Pension Plan Investment Board owned about 0.22% of Citizens Financial Group worth $35,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jump Financial LLC purchased a new stake in Citizens Financial Group in the 4th quarter valued at about $297,000. Norges Bank purchased a new stake in shares of Citizens Financial Group in the fourth quarter valued at approximately $117,372,000. Corient Private Wealth LLC grew its stake in Citizens Financial Group by 12.5% in the fourth quarter. Corient Private Wealth LLC now owns 70,115 shares of the bank’s stock worth $2,324,000 after purchasing an additional 7,800 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Citizens Financial Group by 130.0% during the fourth quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock valued at $64,796,000 after buying an additional 1,105,011 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Citizens Financial Group by 21.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,792 shares of the bank’s stock valued at $159,000 after purchasing an additional 847 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Citizens Financial Group Trading Down 1.3 %

Shares of CFG stock opened at $41.65 on Friday. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $43.96. The firm has a market capitalization of $18.95 billion, a P/E ratio of 15.09, a PEG ratio of 1.42 and a beta of 1.08. The stock’s fifty day moving average is $41.13 and its two-hundred day moving average is $37.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results 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 return on equity of 6.21% and a net margin of 10.74%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. Research analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 4.03%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

Analyst Ratings Changes

A number of equities analysts have commented on CFG shares. Stephens boosted their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Royal Bank of Canada increased their price objective on Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. The Goldman Sachs Group boosted their target price on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Jefferies Financial Group raised their price target on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Morgan Stanley upped their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Hold” and a consensus price target of $42.20.

Citizens Financial Group Company 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.