Nomura Asset Management Co. Ltd. Grows Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Nomura Asset Management Co. Ltd. raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,230 shares of the bank’s stock after acquiring an additional 897 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Citizens Financial Group were worth $6,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CFG. State Street Corp raised its position in shares of Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after buying an additional 1,615,144 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Citizens Financial Group by 207.2% in the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. Norges Bank purchased a new stake in Citizens Financial Group in the fourth quarter valued at approximately $243,431,000. Nordea Investment Management AB raised its stake in Citizens Financial Group by 19.3% in 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Citizens Financial Group by 31.0% during 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. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analyst Ratings Changes

CFG has been the topic of a number of research reports. Truist Financial decreased their price objective on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Raymond James reaffirmed a “strong-buy” rating and set a $58.00 price objective (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Citigroup dropped their target price on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a report on Monday, March 24th. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. Finally, Barclays lifted their target price 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. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average target price of $48.67.

Citizens Financial Group Price Performance

CFG opened at $41.01 on Tuesday. The firm has a market cap of $17.92 billion, a PE ratio of 13.53, a P/E/G ratio of 0.81 and a beta of 1.06. The stock has a 50-day moving average price of $44.53 and a 200-day moving average price of $44.17. Citizens Financial Group, Inc. has a 1 year low of $32.06 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The business’s revenue was down .1% on a year-over-year basis. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.10%. Citizens Financial Group’s dividend payout ratio (DPR) 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.