Citizens Financial Group, Inc. (NYSE:CFG) Stake Boosted by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 27.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,570,083 shares of the bank's stock after purchasing an additional 2,298,040 shares during the quarter. Wellington Management Group LLP owned about 2.42% of Citizens Financial Group worth $462,547,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CFG. D.A. Davidson & CO. purchased a new stake in Citizens Financial Group in the 3rd quarter valued at about $209,000. Townsquare Capital LLC grew its holdings in Citizens Financial Group by 22.0% in the third quarter. Townsquare Capital LLC now owns 19,846 shares of the bank's stock valued at $815,000 after purchasing an additional 3,580 shares during the period. CreativeOne Wealth LLC acquired a new position in Citizens Financial Group during the third quarter worth approximately $227,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Citizens Financial Group by 48.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,529 shares of the bank's stock worth $4,745,000 after purchasing an additional 37,517 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Citizens Financial Group by 1.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 78,414 shares of the bank's stock valued at $3,220,000 after purchasing an additional 1,300 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

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Citizens Financial Group Stock Down 5.4 %

Shares of CFG traded down $1.94 during trading on Friday, reaching $34.28. The company's stock had a trading volume of 8,826,677 shares, compared to its average volume of 4,713,028. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.81 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $43.78 and a two-hundred day moving average of $44.08. Citizens Financial Group, Inc. has a twelve month low of $32.06 and a twelve month high of $49.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. On average, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.42 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.90%. Citizens Financial Group's dividend payout ratio (DPR) is 55.45%.

Analysts Set New Price Targets

A number of research firms have recently commented on CFG. Morgan Stanley dropped their price objective on Citizens Financial Group from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Truist Financial dropped their price target on Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Stephens reaffirmed an "overweight" rating and issued a $53.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Raymond James reissued a "strong-buy" rating and set a $58.00 target price (up previously from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $49.06.

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.