Intact Investment Management Inc. Takes Position in Citizens Financial Group, Inc. (NYSE:CFG)

Intact Investment Management Inc. bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,700 shares of the bank’s stock, valued at approximately $70,000.

Several other large investors also recently added to or reduced their stakes in the business. Capital International Investors grew its position in Citizens Financial Group by 4.4% during the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after buying an additional 1,552,333 shares during the period. LSV Asset Management grew its position in Citizens Financial Group by 1.8% during the second quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after buying an additional 113,300 shares during the period. Dimensional Fund Advisors LP grew its position in Citizens Financial Group by 15.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after buying an additional 587,115 shares during the period. AQR Capital Management LLC grew its position in Citizens Financial Group by 61.4% during the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after buying an additional 1,682,886 shares during the period. Finally, Hsbc Holdings PLC grew its position in Citizens Financial Group by 1.7% during the second quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock valued at $99,448,000 after buying an additional 45,038 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CFG. DA Davidson boosted their target price on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Piper Sandler upped their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Morgan Stanley upped their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.80.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $42.22 on Wednesday. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.59 and a beta of 1.07. The firm’s fifty day moving average is $41.50 and its 200 day moving average is $38.79. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. Citizens Financial Group, Inc. has a 52-week low of $24.61 and a 52-week high of $44.39.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.19 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

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.