Allstate Corp Makes New Investment in Citizens Financial Group, Inc. (NYSE:CFG)

Allstate Corp purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,364 shares of the bank's stock, valued at approximately $585,000.

A number of other institutional investors also recently made changes to their positions in the stock. D.A. Davidson & CO. purchased a new stake in Citizens Financial Group during the 3rd quarter worth about $209,000. Townsquare Capital LLC raised its holdings in Citizens Financial Group by 22.0% in the 3rd quarter. Townsquare Capital LLC now owns 19,846 shares of the bank's stock valued at $815,000 after acquiring an additional 3,580 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth $227,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Citizens Financial Group by 48.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,529 shares of the bank's stock worth $4,745,000 after purchasing an additional 37,517 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of Citizens Financial Group by 1.7% in the third quarter. Public Sector Pension Investment Board now owns 78,414 shares of the bank's stock valued at $3,220,000 after purchasing an additional 1,300 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Down 5.4 %

Shares of CFG traded down $1.94 during mid-day trading on Friday, reaching $34.28. 8,826,677 shares of the stock traded hands, compared to its average volume of 4,713,028. The stock has a fifty day simple moving average of $43.78 and a 200 day simple moving average of $44.10. Citizens Financial Group, Inc. has a 12-month low of $32.06 and a 12-month high of $49.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.81 and a beta of 0.81.

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Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm's quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is 55.45%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Stephens restated an "overweight" rating and issued a $53.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 29th. Morgan Stanley lowered their target price on shares of Citizens Financial Group from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $53.00 to $56.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 21st. Raymond James reissued a "strong-buy" rating and set a $58.00 price objective (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Finally, Barclays increased their target price on Citizens Financial Group from $47.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus 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.