Kentucky Retirement Systems Insurance Trust Fund Sells 1,403 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 9.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,273 shares of the bank’s stock after selling 1,403 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Citizens Financial Group were worth $545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Citizens Financial Group in the second quarter valued at $25,000. Costello Asset Management INC acquired a new position in Citizens Financial Group during the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in Citizens Financial Group in the third quarter valued at approximately $27,000. Catalyst Capital Advisors LLC acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $28,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.4 %

CFG stock opened at $46.57 on Tuesday. Citizens Financial Group, Inc. has a 52 week low of $26.13 and a 52 week high of $48.35. The company has a market capitalization of $20.52 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company’s 50-day simple moving average is $42.29 and its 200 day simple moving average is $39.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.61%. Citizens Financial Group’s dividend payout ratio is 66.14%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. DA Davidson upped their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price target on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Finally, Piper Sandler lifted their target price on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Citizens Financial Group currently has an average rating of “Hold” and a consensus target price of $43.80.

Citizens Financial Group Company 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.