Citizens Financial Group, Inc. (NYSE:CFG) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 609,783 shares of the bank’s stock after selling 25,210 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Citizens Financial Group worth $28,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CFG. Global Retirement Partners LLC raised its holdings in shares of Citizens Financial Group by 70.4% during the third quarter. Global Retirement Partners LLC now owns 576 shares of the bank’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Citizens Financial Group by 148.8% during the third quarter. Spire Wealth Management now owns 602 shares of the bank’s stock worth $28,000 after acquiring an additional 360 shares in the last quarter. Canton Hathaway LLC purchased a new stake in shares of Citizens Financial Group during the third quarter worth $37,000. Evermay Wealth Management LLC purchased a new stake in shares of Citizens Financial Group during the second quarter worth $41,000. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of Citizens Financial Group by 32.2% during the third quarter. TCI Wealth Advisors Inc. now owns 936 shares of the bank’s stock worth $44,000 after acquiring an additional 228 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Shares of NYSE:CFG opened at $56.35 on Friday. The company has a market cap of $24.02 billion, a P/E ratio of 11.32, a P/E/G ratio of 0.57 and a beta of 1.61. The stock’s 50-day moving average is $48.90 and its 200-day moving average is $46.49. Citizens Financial Group, Inc. has a 52-week low of $35.09 and a 52-week high of $56.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.91.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Tuesday, October 19th. The bank reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.02. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. Citizens Financial Group had a return on equity of 10.99% and a net margin of 31.99%. During the same period last year, the business posted $0.73 earnings per share. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 5.23 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Friday, October 29th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Thursday, October 28th. Citizens Financial Group’s payout ratio is presently 31.33%.

Several brokerages recently issued reports on CFG. JPMorgan Chase & Co. increased their price objective on Citizens Financial Group from $54.00 to $56.50 and gave the stock an “overweight” rating in a report on Thursday, January 6th. Morgan Stanley assumed coverage on Citizens Financial Group in a report on Tuesday. They set an “overweight” rating and a $69.00 price objective for the company. Jefferies Financial Group increased their target price on shares of Citizens Financial Group from $47.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 11th. Barclays increased their target price on shares of Citizens Financial Group from $55.00 to $62.00 in a research report on Monday, January 3rd. Finally, Citigroup raised shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.00 to $65.00 in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $53.90.

About Citizens Financial Group

Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the following segments: Consumer Banking and Commercial Banking. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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