Capital World Investors Reduces Holdings in Citizens Financial Group, Inc. $CFG

Capital World Investors decreased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,886,708 shares of the bank’s stock after selling 403,003 shares during the period. Capital World Investors owned 0.09% of Citizens Financial Group worth $2,154,802,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CFG. Norges Bank purchased a new stake in shares of Citizens Financial Group in the 4th quarter valued at approximately $355,909,000. Capital International Investors grew its stake in shares of Citizens Financial Group by 32.3% in the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock valued at $467,389,000 after buying an additional 1,953,372 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $87,173,000. Zurich Insurance Group Ltd FI grew its stake in shares of Citizens Financial Group by 326.3% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 2,082,961 shares of the bank’s stock valued at $110,730,000 after buying an additional 1,594,326 shares during the period. Finally, Artemis Investment Management LLP grew its stake in shares of Citizens Financial Group by 160.4% in the 4th quarter. Artemis Investment Management LLP now owns 2,448,050 shares of the bank’s stock valued at $142,991,000 after buying an additional 1,508,070 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CFG shares. Evercore reissued an “outperform” rating and issued a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, March 3rd. Robert W. Baird upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Monday, March 9th. Finally, Truist Financial upped their price objective on shares of Citizens Financial Group from $63.00 to $69.00 and gave the stock a “hold” rating in a report on Friday, April 17th. Nineteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.88.

Insider Buying and Selling

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the sale, the insider directly owned 165,971 shares in the company, valued at $9,632,956.84. This represents a 7.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle Moosally sold 6,050 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the sale, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.67% of the stock is owned by corporate insiders.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $64.09 on Friday. The firm has a market cap of $27.10 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.51 and a beta of 0.68. Citizens Financial Group, Inc. has a 52-week low of $40.17 and a 52-week high of $68.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $62.84 and its two-hundred day moving average is $60.81.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. On average, research analysts expect that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.9%. Citizens Financial Group’s dividend payout ratio is 43.50%.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.