Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,156,427 shares of the bank's stock after selling 73,901 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.26% of Citizens Financial Group worth $47,494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CFG. Costello Asset Management INC purchased a new stake in shares of Citizens Financial Group in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new position in Citizens Financial Group during the third quarter valued at $27,000. Catalyst Capital Advisors LLC acquired a new position in Citizens Financial Group during the third quarter valued at $28,000. Innealta Capital LLC purchased a new stake in Citizens Financial Group in the second quarter valued at $25,000. Finally, Versant Capital Management Inc grew its position in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank's stock worth $34,000 after purchasing an additional 678 shares during the period. Institutional investors and hedge funds own 94.90% of the company's stock.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Citizens Financial Group from $41.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, August 5th. Citigroup boosted their price target on Citizens Financial Group from $50.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods raised 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. DA Davidson lifted their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, Evercore ISI lowered their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating on the stock in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $45.47.

Citizens Financial Group Price Performance

Citizens Financial Group stock traded down $0.02 during midday trading on Friday, reaching $48.14. The company had a trading volume of 1,977,639 shares, compared to its average volume of 5,221,379. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. Citizens Financial Group, Inc. has a 12-month low of $26.99 and a 12-month high of $49.25. The company has a market capitalization of $21.22 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.83 and a beta of 1.07. The firm's fifty day simple moving average is $43.41 and its 200-day simple moving average is $40.13.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.49%. Citizens Financial Group's payout ratio is currently 66.14%.

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.