CANADA LIFE ASSURANCE Co Raises Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

CANADA LIFE ASSURANCE Co boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 85.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 575,406 shares of the bank's stock after acquiring an additional 264,675 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.13% of Citizens Financial Group worth $25,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CFG. Ameliora Wealth Management Ltd. purchased a new stake in Citizens Financial Group during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Citizens Financial Group in the 4th quarter worth about $28,000. Sierra Ocean LLC purchased a new position in shares of Citizens Financial Group during the 4th quarter worth about $47,000. Duncker Streett & Co. Inc. bought a new position in Citizens Financial Group during the 4th quarter valued at about $51,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Citizens Financial Group in the 4th quarter worth about $66,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 2.0 %

NYSE:CFG traded up $0.71 during mid-day trading on Wednesday, hitting $36.53. 4,647,620 shares of the company's stock traded hands, compared to its average volume of 4,790,616. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $15.97 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.81 and a beta of 0.81. The company has a fifty day moving average of $40.45 and a 200 day moving average of $43.53. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $49.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. On average, analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.60%. Citizens Financial Group's dividend payout ratio is currently 53.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CFG shares. Morgan Stanley cut their target price on Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Piper Sandler reduced their target price on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Stephens decreased their target price on Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. Raymond James reiterated a "strong-buy" rating and set a $48.00 price objective (down previously from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. Finally, Citigroup lowered their price objective on shares of Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $45.82.

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.