NEOS Investment Management LLC Grows Stake in Citizens Financial Group, Inc. (NYSE:CFG)

NEOS Investment Management LLC raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,469 shares of the bank’s stock after acquiring an additional 6,219 shares during the quarter. NEOS Investment Management LLC’s holdings in Citizens Financial Group were worth $1,158,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CFG. State Street Corp increased its position in shares of Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after purchasing an additional 1,615,144 shares during the last quarter. Wellington Management Group LLP grew its position in Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after buying an additional 5,579,313 shares during the period. Nordea Investment Management AB increased its holdings in Citizens Financial Group by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock valued at $217,781,000 after buying an additional 805,758 shares during the last quarter. Bank of New York Mellon Corp raised its position in Citizens Financial Group by 31.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock worth $155,051,000 after acquiring an additional 839,041 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Citizens Financial Group by 11.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank’s stock worth $129,150,000 after acquiring an additional 334,386 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CFG shares. Citigroup decreased their target price on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Piper Sandler raised their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Morgan Stanley cut their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Stephens restated an “overweight” rating and set a $53.00 target price on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Finally, Truist Financial dropped their price target on shares of Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Citizens Financial Group Trading Down 2.4 %

Shares of Citizens Financial Group stock opened at $40.26 on Friday. Citizens Financial Group, Inc. has a twelve month low of $32.06 and a twelve month high of $49.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $44.66 and a 200-day moving average price of $44.13. The firm has a market cap of $17.60 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.81 and a beta of 1.06.

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

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Friday, January 31st. Citizens Financial Group’s payout ratio is 55.45%.

Citizens Financial Group 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.