Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 40.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,021 shares of the bank's stock after selling 30,405 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Citizens Financial Group were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. lifted its holdings in shares of Citizens Financial Group by 12.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank's stock worth $84,000 after acquiring an additional 264 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Citizens Financial Group by 3.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank's stock valued at $292,000 after acquiring an additional 305 shares during the last quarter. ZWJ Investment Counsel Inc. increased its stake in Citizens Financial Group by 0.3% in the third quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank's stock worth $3,648,000 after purchasing an additional 308 shares during the period. Abich Financial Wealth Management LLC lifted its position in shares of Citizens Financial Group by 11.5% during the second quarter. Abich Financial Wealth Management LLC now owns 3,250 shares of the bank's stock worth $117,000 after purchasing an additional 334 shares during the last quarter. Finally, Tealwood Asset Management Inc. boosted its position in Citizens Financial Group by 0.8% in the 3rd quarter. Tealwood Asset Management Inc. now owns 43,059 shares of the bank's stock valued at $1,768,000 after buying an additional 360 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG stock traded up $0.55 on Tuesday, hitting $41.61. The company had a trading volume of 4,904,729 shares, compared to its average volume of 5,391,461. The firm has a market cap of $18.93 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. Citizens Financial Group, Inc. has a twelve month low of $22.77 and a twelve month high of $44.39. The company has a 50-day moving average price of $41.40 and a 200-day moving average price of $38.20. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, equities research analysts predict that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.04%. Citizens Financial Group's dividend payout ratio (DPR) is currently 60.87%.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the company's stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the transaction, the insider now directly owns 33,620 shares of the company's stock, valued at $1,454,401.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com raised Citizens Financial Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Piper Sandler increased their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. The Goldman Sachs Group increased their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods boosted their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a "market perform" rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada lifted their price target on Citizens Financial Group from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $43.80.

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.