Canada Pension Plan Investment Board Has $29.50 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Canada Pension Plan Investment Board raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 128.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 674,200 shares of the bank’s stock after acquiring an additional 379,200 shares during the period. Canada Pension Plan Investment Board’s holdings in Citizens Financial Group were worth $29,503,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CFG. NewEdge Advisors LLC increased its position in Citizens Financial Group by 3.3% in the 4th quarter. NewEdge Advisors LLC now owns 11,257 shares of the bank’s stock worth $493,000 after buying an additional 363 shares during the period. United Capital Financial Advisors LLC raised its stake in Citizens Financial Group by 2.7% during the 4th quarter. United Capital Financial Advisors LLC now owns 19,541 shares of the bank’s stock valued at $855,000 after purchasing an additional 515 shares during the last quarter. Bridgewater Associates LP bought a new stake in Citizens Financial Group in the 4th quarter valued at $2,880,000. AGP Franklin LLC bought a new position in shares of Citizens Financial Group during the 4th quarter worth about $1,025,000. Finally, Ontario Teachers Pension Plan Board raised its position in shares of Citizens Financial Group by 2.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 18,645 shares of the bank’s stock valued at $816,000 after buying an additional 440 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CFG shares. Citigroup lowered their price target on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. DA Davidson lowered their price objective on Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank of Canada cut their target price on Citizens Financial Group from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Sandler decreased their price target on shares of Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Truist Financial dropped their price target on shares of Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating for the company in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.82.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $35.43 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $40.88 and a 200 day simple moving average of $43.61. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $49.25. The firm has a market cap of $15.49 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.74%. Citizens Financial Group’s dividend payout ratio is currently 53.33%.

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.