Schroder Investment Management Group Cuts Stock Position in Citizens Financial Group, Inc. $CFG

Schroder Investment Management Group lessened its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 524,107 shares of the bank’s stock after selling 16,962 shares during the period. Schroder Investment Management Group’s holdings in Citizens Financial Group were worth $28,118,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CFG. Vanguard Group Inc. lifted its position in Citizens Financial Group by 0.4% during the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock valued at $2,306,817,000 after purchasing an additional 209,467 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Citizens Financial Group by 1.2% in the 2nd quarter. Invesco Ltd. now owns 23,671,355 shares of the bank’s stock worth $1,059,293,000 after buying an additional 283,321 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Citizens Financial Group by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 6,715,372 shares of the bank’s stock valued at $353,430,000 after buying an additional 315,467 shares in the last quarter. LSV Asset Management raised its position in shares of Citizens Financial Group by 14.5% during the 2nd quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock valued at $293,685,000 after buying an additional 833,399 shares in the last quarter. Finally, Ninety One UK Ltd bought a new position in shares of Citizens Financial Group in the 3rd quarter valued at about $308,946,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 2.8%

Shares of NYSE CFG opened at $56.89 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. The business’s 50 day moving average price is $62.48 and its 200-day moving average price is $56.57. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $68.79. The company has a market cap of $24.18 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.48 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.Citizens Financial Group’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. On average, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio (DPR) is 47.55%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CFG shares. Evercore boosted their price objective on Citizens Financial Group from $69.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Morgan Stanley raised their price objective on Citizens Financial Group from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 target price on shares of Citizens Financial Group in a research report on Tuesday, March 3rd. New Street Research set a $73.00 price target on Citizens Financial Group in a report on Thursday, January 22nd. Finally, Robert W. Baird upgraded Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Monday. Twenty research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.95.

Insider Activity

In other news, insider Susan Lamonica sold 13,258 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider directly owned 165,971 shares in the company, valued at approximately $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

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.