California Public Employees Retirement System Decreases Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

California Public Employees Retirement System decreased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 868,454 shares of the bank’s stock after selling 63,082 shares during the quarter. California Public Employees Retirement System owned 0.19% of Citizens Financial Group worth $28,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its stake in Citizens Financial Group by 40.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock worth $54,000 after purchasing an additional 472 shares during the period. Lindbrook Capital LLC increased its stake in Citizens Financial Group by 100.8% in the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after purchasing an additional 496 shares during the period. Highlander Capital Management LLC increased its stake in Citizens Financial Group by 19.6% in the fourth quarter. Highlander Capital Management LLC now owns 3,056 shares of the bank’s stock worth $101,000 after purchasing an additional 500 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Citizens Financial Group by 4.5% during the third quarter. Coldstream Capital Management Inc. now owns 12,246 shares of the bank’s stock valued at $328,000 after buying an additional 523 shares during the period. Finally, FSC Wealth Advisors LLC increased its stake in shares of Citizens Financial Group by 22.0% during the third quarter. FSC Wealth Advisors LLC now owns 2,927 shares of the bank’s stock valued at $78,000 after buying an additional 527 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the sale, the insider now owns 43,885 shares in the company, valued at $1,471,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CFG. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $41.00 in a research report on Friday. Royal Bank of Canada raised their price objective on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. StockNews.com cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday. Argus boosted their price objective on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price target on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.13.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $35.15 on Friday. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $36.38. The business has a 50-day moving average of $33.68 and a 200-day moving average of $30.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 12.74 and a beta of 1.38.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm posted $1.00 EPS. The company’s revenue was down 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.24 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, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

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.