KLP Kapitalforvaltning AS Purchases Shares of 140,760 Citizens Financial Group, Inc. (NYSE:CFG)

KLP Kapitalforvaltning AS acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 140,760 shares of the bank’s stock, valued at approximately $6,160,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in 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 acquiring an additional 1,615,144 shares during the period. Wellington Management Group LLP lifted 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 purchasing an additional 5,579,313 shares during the period. Nordea Investment Management AB lifted its position 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 purchasing an additional 805,758 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 valued at $155,051,000 after purchasing an additional 839,041 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 purchasing an additional 334,386 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 21st. Barclays raised their price objective on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Truist Financial decreased their target price on shares of Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Piper Sandler raised their price target on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Compass Point upped their price objective on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.67.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $42.24 on Wednesday. Citizens Financial Group, Inc. has a fifty-two week low of $32.06 and a fifty-two week high of $49.25. The firm has a market capitalization of $18.46 billion, a P/E ratio of 13.94, a PEG ratio of 0.81 and a beta of 1.06. The stock’s fifty day moving average is $45.01 and its two-hundred day moving average is $44.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.99 billion for 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 quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 earnings per share. Research analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.42 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.98%. Citizens Financial Group’s dividend payout ratio is presently 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.