Pinebridge Investments L.P. Sells 21,905 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Pinebridge Investments L.P. cut its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280,430 shares of the bank's stock after selling 21,905 shares during the quarter. Pinebridge Investments L.P. owned 0.06% of Citizens Financial Group worth $12,272,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

CFG has been the subject of several recent research reports. Argus set a $45.00 price target on shares of Citizens Financial Group in a research report on Thursday. Truist Financial lowered their target price on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Barclays reduced their price target on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Citigroup lowered their price target on shares of Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Royal Bank of Canada dropped their price objective on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.18.

Citizens Financial Group Stock Down 1.0 %

Shares of NYSE:CFG traded down $0.38 during mid-day trading on Friday, hitting $37.06. 3,350,553 shares of the company traded hands, compared to its average volume of 4,801,139. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $39.87 and a two-hundred day moving average price of $43.45. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $49.25. The stock has a market cap of $16.20 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. On average, equities research analysts forecast 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 will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Wednesday, April 30th. Citizens Financial Group's dividend payout ratio is presently 53.33%.

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.