Citizens Financial Group, Inc. (NYSE:CFG) Stock Holdings Increased by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,570,083 shares of the bank’s stock after buying an additional 2,298,040 shares during the period. Wellington Management Group LLP’s holdings in Citizens Financial Group were worth $462,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. D.A. Davidson & CO. acquired a new stake in Citizens Financial Group during the third quarter valued at approximately $209,000. Townsquare Capital LLC increased its stake in Citizens Financial Group by 22.0% in the 3rd quarter. Townsquare Capital LLC now owns 19,846 shares of the bank’s stock worth $815,000 after purchasing an additional 3,580 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Citizens Financial Group in the third quarter worth about $227,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Citizens Financial Group by 48.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,529 shares of the bank’s stock valued at $4,745,000 after acquiring an additional 37,517 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in Citizens Financial Group by 1.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 78,414 shares of the bank’s stock worth $3,220,000 after purchasing an additional 1,300 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CFG has been the subject of a number of research reports. Stephens restated an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Morgan Stanley dropped their price objective on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Citigroup decreased their target price on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Raymond James reaffirmed a “strong-buy” rating and issued a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Finally, Piper Sandler lifted their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.67.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $41.01 on Tuesday. The firm has a market capitalization of $17.92 billion, a PE ratio of 13.53, a PEG ratio of 0.81 and a beta of 1.06. Citizens Financial Group, Inc. has a 1 year low of $32.06 and a 1 year high of $49.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $44.53 and its 200 day simple moving average is $44.17.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 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 $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.42 per share. The ex-dividend date was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.10%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

Citizens Financial Group Company 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.