Legal & General Group Plc Sells 697,980 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Legal & General Group Plc cut its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,606,794 shares of the bank's stock after selling 697,980 shares during the period. Legal & General Group Plc owned approximately 0.59% of Citizens Financial Group worth $114,073,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth approximately $8,134,000. BTC Capital Management Inc. lifted its stake in Citizens Financial Group by 19.8% during the 4th quarter. BTC Capital Management Inc. now owns 42,999 shares of the bank's stock valued at $1,882,000 after acquiring an additional 7,119 shares in the last quarter. Patton Fund Management Inc. bought a new position in Citizens Financial Group during the 4th quarter valued at $6,694,000. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Citizens Financial Group by 46.8% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,152,151 shares of the bank's stock worth $50,430,000 after acquiring an additional 367,439 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Citizens Financial Group by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank's stock worth $217,781,000 after acquiring an additional 805,758 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

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Wall Street Analysts Forecast Growth

CFG has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of Citizens Financial Group from $60.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Truist Financial reduced their target price on Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating for the company in a report on Friday, March 21st. Citigroup decreased their price target on 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. Barclays upped their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Finally, Raymond James reiterated a "strong-buy" rating and set a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $49.06.

Citizens Financial Group Price Performance

Shares of CFG traded down $0.16 during midday trading on Wednesday, hitting $35.95. 2,951,839 shares of the company traded hands, compared to its average volume of 4,731,922. The stock has a 50-day moving average of $41.61 and a 200-day moving average of $43.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $49.25. The firm has a market cap of $15.71 billion, a P/E ratio of 11.86, a PEG ratio of 0.81 and a beta of 0.81.

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

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.67%. Citizens Financial Group's payout ratio is 55.45%.

About Citizens Financial Group

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.