Dai ichi Life Insurance Company Ltd Invests $715,000 in Citizens Financial Group, Inc. (NYSE:CFG)

Dai ichi Life Insurance Company Ltd bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,418 shares of the bank's stock, valued at approximately $715,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CFG. Versor Investments LP purchased a new position in Citizens Financial Group during the 3rd quarter worth $1,910,000. CWM LLC grew its position in Citizens Financial Group by 77.1% in the 2nd quarter. CWM LLC now owns 40,699 shares of the bank's stock worth $1,466,000 after purchasing an additional 17,718 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Citizens Financial Group in the 2nd quarter valued at about $5,009,000. Andra AP fonden lifted its position in shares of Citizens Financial Group by 49.1% during the 2nd quarter. Andra AP fonden now owns 308,300 shares of the bank's stock worth $11,108,000 after buying an additional 101,500 shares in the last quarter. Finally, Pathstone Holdings LLC increased its position in shares of Citizens Financial Group by 7.7% during the third quarter. Pathstone Holdings LLC now owns 154,546 shares of the bank's stock valued at $6,347,000 after acquiring an additional 11,044 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Analyst Ratings Changes

CFG has been the subject of several research analyst reports. Barclays raised their target price on Citizens Financial Group from $40.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Morgan Stanley lifted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, August 5th. Evercore ISI reduced their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating for the company in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a "market perform" rating in a report on Monday, September 30th. Finally, DA Davidson increased their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $45.47.

Citizens Financial Group Price Performance

Shares of CFG traded down $0.02 during mid-day trading on Friday, reaching $48.14. 1,977,683 shares of the stock traded hands, compared to its average volume of 5,221,379. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Citizens Financial Group, Inc. has a 1 year low of $26.99 and a 1 year high of $49.25. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.83 and a beta of 1.07. The firm has a fifty day moving average price of $43.41 and a 200 day moving average price of $40.13.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the business earned $0.85 earnings per share. Citizens Financial Group's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.49%. Citizens Financial Group's payout ratio is 66.14%.

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.