Price T Rowe Associates Inc. MD boosted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,907,554 shares of the bank’s stock after acquiring an additional 186,433 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Citizens Financial Group were worth $65,544,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors raised its position in shares of Citizens Financial Group by 76.0% in the first quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock valued at $861,383,000 after buying an additional 8,203,831 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Citizens Financial Group by 444.3% in the second quarter. Prudential Financial Inc. now owns 2,852,267 shares of the bank’s stock valued at $101,799,000 after buying an additional 2,328,251 shares during the last quarter. Eaton Vance Management raised its position in shares of Citizens Financial Group by 899.7% in the third quarter. Eaton Vance Management now owns 2,319,890 shares of the bank’s stock valued at $79,712,000 after buying an additional 2,087,841 shares during the last quarter. Amundi raised its position in shares of Citizens Financial Group by 18.1% in the second quarter. Amundi now owns 10,174,475 shares of the bank’s stock valued at $355,395,000 after buying an additional 1,558,994 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Citizens Financial Group by 108.6% in the second quarter. Deutsche Bank AG now owns 2,654,567 shares of the bank’s stock valued at $94,742,000 after buying an additional 1,381,811 shares during the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.
Insider Activity at Citizens Financial Group
In related news, Director Kevin Cummings sold 90,689 shares of the stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $43.00, for a total value of $3,899,627.00. Following the completion of the transaction, the director now owns 455,789 shares in the company, valued at approximately $19,598,927. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by insiders.
Citizens Financial Group Stock Down 11.0 %
Citizens Financial Group (NYSE:CFG – Get Rating) last released its quarterly earnings data on Tuesday, January 17th. The bank reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.05). The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.22 billion. Citizens Financial Group had a return on equity of 11.24% and a net margin of 22.86%. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.03 EPS for the current year.
Citizens Financial Group declared that its board has authorized a stock buyback plan on Friday, February 17th that allows the company to buyback $1.15 billion in shares. This buyback authorization allows the bank to buy up to 5.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Citizens Financial Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st were given a $0.42 dividend. The ex-dividend date was Monday, January 30th. This represents a $1.68 dividend on an annualized basis and a yield of 5.48%. Citizens Financial Group’s dividend payout ratio is presently 41.18%.
Analyst Ratings Changes
CFG has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Citizens Financial Group from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Wedbush downgraded shares of Citizens Financial Group from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Tuesday, January 3rd. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, December 5th. Piper Sandler boosted their target price on shares of Citizens Financial Group from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Finally, Wolfe Research boosted their target price on shares of Citizens Financial Group from $33.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, December 1st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.17.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. 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.
- Get a free copy of the StockNews.com research report on Citizens Financial Group (CFG)
- First Republic: First Rate Risk or Time To Buy?
- These Hedge Funds Are Getting Crushed By SVB
- Buy The Dip In The Charles Schwab Corporation
- ZIM Integrated Shipping Services: Up 15% But Don’t Chase It
- FedEx Is A Buy Going Into Earnings
Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG – Get Rating).
Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.