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

The Manufacturers Life Insurance Company lowered its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,108,118 shares of the bank’s stock after selling 48,309 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Citizens Financial Group were worth $48,491,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in Citizens Financial Group during the 4th quarter valued at $243,431,000. Wellington Management Group LLP lifted its holdings in Citizens Financial Group by 27.8% in the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock valued at $462,547,000 after acquiring an additional 2,298,040 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Citizens Financial Group by 20.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock worth $423,733,000 after purchasing an additional 1,672,204 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Citizens Financial Group in the fourth quarter worth approximately $56,483,000. Finally, Capital World Investors lifted its position in shares of Citizens Financial Group by 3.3% during the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock valued at $1,570,989,000 after acquiring an additional 1,131,838 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

NYSE CFG opened at $36.92 on Thursday. The stock has a market cap of $16.14 billion, a PE ratio of 12.18, a P/E/G ratio of 0.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $49.25. The firm has a 50-day moving average of $39.34 and a 200-day moving average of $43.34.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 53.33%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stephens reduced their price objective on shares of Citizens Financial Group from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Royal Bank of Canada decreased their price target on shares of Citizens Financial Group from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped 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 note on Thursday, April 3rd. Citigroup cut their price target on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Barclays cut their price objective on shares of 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. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.18.

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.