Vanguard Group Inc. Has $2.26 Billion Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Vanguard Group Inc. cut its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,652,417 shares of the bank's stock after selling 314,400 shares during the quarter. Vanguard Group Inc. owned approximately 11.72% of Citizens Financial Group worth $2,260,310,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CFG. Wellington Management Group LLP grew its holdings in Citizens Financial Group by 207.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank's stock valued at $339,733,000 after buying an additional 5,579,313 shares during the last quarter. State Street Corp lifted its position in shares of Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank's stock valued at $1,060,689,000 after acquiring an additional 1,615,144 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Citizens Financial Group during the fourth quarter valued at $56,483,000. Bank of Montreal Can increased its position in Citizens Financial Group by 51.1% during the 3rd quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank's stock worth $107,897,000 after purchasing an additional 894,322 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Citizens Financial Group by 31.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank's stock valued at $155,051,000 after purchasing an additional 839,041 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

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Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock traded down $0.08 on Monday, reaching $40.18. 518,392 shares of the company were exchanged, compared to its average volume of 4,713,941. The company's 50-day moving average is $44.66 and its two-hundred day moving average is $44.16. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group, Inc. has a 1-year low of $32.06 and a 1-year high of $49.25.

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 for the quarter, beating analysts' consensus estimates of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.42 per share. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.18%. Citizens Financial Group's dividend payout ratio is 55.45%.

Wall Street Analyst Weigh In

CFG has been the topic of several analyst reports. Keefe, Bruyette & Woods raised 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. Citigroup reduced their target price on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Piper Sandler increased their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. 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. Finally, Barclays boosted their price objective on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an "equal weight" rating in a research note 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.67.

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.