AIA Group Ltd Sells 6,326 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

AIA Group Ltd reduced its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,932 shares of the bank's stock after selling 6,326 shares during the quarter. AIA Group Ltd's holdings in Citizens Financial Group were worth $1,047,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. bought a new position in shares of Citizens Financial Group in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Citizens Financial Group in the fourth quarter worth about $28,000. Sierra Ocean LLC bought a new position in Citizens Financial Group in the 4th quarter valued at about $47,000. Legacy Investment Solutions LLC acquired a new position in Citizens Financial Group during the 3rd quarter valued at about $48,000. Finally, Duncker Streett & Co. Inc. acquired a new position in Citizens Financial Group during the 4th quarter valued at about $51,000. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Down 5.4 %

CFG stock traded down $1.94 during midday trading on Friday, reaching $34.28. The company had a trading volume of 8,826,677 shares, compared to its average volume of 4,713,028. The company has a 50 day moving average of $43.78 and a two-hundred day moving average of $44.08. 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, Inc. has a 1 year low of $32.06 and a 1 year high of $49.25. The company has a market capitalization of $14.98 billion, a P/E ratio of 11.31, a PEG ratio of 0.81 and a beta of 0.81.

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Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group's payout ratio is presently 55.45%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CFG shares. Truist Financial decreased their price objective on shares of Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating for the company in a report on Friday, March 21st. Compass Point increased their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Raymond James restated a "strong-buy" rating and issued a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Stephens reaffirmed an "overweight" rating and set a $53.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 29th. Finally, Citigroup dropped their price target on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Nine equities research 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. Based on data from MarketBeat.com, Citizens Financial Group currently has an average rating of "Moderate Buy" and an average target price of $49.06.

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.