State of Michigan Retirement System Reduces Stake in Citizens Financial Group, Inc. (NYSE:CFG)

State of Michigan Retirement System reduced its position in Citizens Financial Group, Inc. (NYSE:CFG) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,573 shares of the bank’s stock after selling 4,000 shares during the period. State of Michigan Retirement System’s holdings in Citizens Financial Group were worth $5,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Citizens Financial Group in the 4th quarter worth $8,134,000. BTC Capital Management Inc. boosted its stake in shares of Citizens Financial Group by 19.8% in the 4th quarter. BTC Capital Management Inc. now owns 42,999 shares of the bank’s stock worth $1,882,000 after buying an additional 7,119 shares during the last quarter. Patton Fund Management Inc. purchased a new position in shares of Citizens Financial Group in the 4th quarter worth $6,694,000. AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of Citizens Financial Group by 46.8% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,152,151 shares of the bank’s stock worth $50,430,000 after buying an additional 367,439 shares during the last quarter. Finally, Versor Investments LP purchased a new position in shares of Citizens Financial Group in the 3rd quarter worth $1,910,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CFG. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, January 21st. Stephens reaffirmed an “overweight” rating and issued a $53.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 29th. Raymond James reissued a “strong-buy” rating and set a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Piper Sandler raised their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Compass Point raised their price target on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Trading Down 2.4 %

Shares of CFG stock opened at $42.28 on Friday. Citizens Financial Group, Inc. has a 12-month low of $32.06 and a 12-month high of $49.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock’s 50-day moving average price is $45.87 and its 200-day moving average price is $44.22. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. Equities research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 3.97%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

About Citizens Financial Group

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.