KLP Kapitalforvaltning AS Acquires New Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

KLP Kapitalforvaltning AS purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 140,760 shares of the bank's stock, valued at approximately $6,160,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank's stock worth $1,060,689,000 after purchasing an additional 1,615,144 shares during the period. Wellington Management Group LLP increased its position in Citizens Financial Group by 207.2% in the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank's stock worth $339,733,000 after buying an additional 5,579,313 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Citizens Financial Group by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank's stock worth $217,781,000 after buying an additional 805,758 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Citizens Financial Group by 31.0% during 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 buying an additional 839,041 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Citizens Financial Group by 11.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank's stock valued at $129,150,000 after acquiring an additional 334,386 shares during the period. Hedge funds and other institutional investors own 94.90% of the company's stock.

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Citizens Financial Group Trading Down 2.4 %

Shares of NYSE CFG traded down $1.00 during mid-day trading on Friday, reaching $40.26. The company had a trading volume of 3,525,232 shares, compared to its average volume of 4,730,325. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06. Citizens Financial Group, Inc. has a 52 week low of $32.06 and a 52 week high of $49.25. The business's 50-day moving average is $44.66 and its 200-day moving average is $44.13. 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 (NYSE:CFG - Get Free Report) last issued its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company's revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Friday, January 31st. Citizens Financial Group's dividend payout ratio (DPR) is presently 55.45%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Citigroup lowered their target price on shares of 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. Keefe, Bruyette & Woods increased their price target on 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. Compass Point boosted 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. Finally, Truist Financial decreased their target price on Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating on the stock in a research note on Friday, March 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.