The Manufacturers Life Insurance Company Has $47.49 Million Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

The Manufacturers Life Insurance Company reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,156,427 shares of the bank’s stock after selling 73,901 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.26% of Citizens Financial Group worth $47,494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CFG. Comerica Bank lifted its stake in shares of Citizens Financial Group by 57.9% in the first quarter. Comerica Bank now owns 296,454 shares of the bank’s stock worth $10,758,000 after acquiring an additional 108,712 shares during the period. LRI Investments LLC acquired a new position in Citizens Financial Group in the first quarter valued at approximately $119,000. Swedbank AB acquired a new position in Citizens Financial Group in the first quarter valued at approximately $12,263,000. Atria Investments Inc lifted its stake in Citizens Financial Group by 21.5% in the first quarter. Atria Investments Inc now owns 37,702 shares of the bank’s stock valued at $1,368,000 after buying an additional 6,681 shares during the period. Finally, PGGM Investments acquired a new position in Citizens Financial Group in the first quarter valued at approximately $1,331,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CFG. Morgan Stanley boosted their price target on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Citigroup boosted their price target on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. DA Davidson upped their price target on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Barclays upped their price target on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Hold” and a consensus target price of $45.47.

Citizens Financial Group Stock Up 0.1 %

Shares of NYSE CFG opened at $48.16 on Friday. Citizens Financial Group, Inc. has a one year low of $26.13 and a one year high of $49.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The business’s fifty day moving average price is $43.41 and its 200-day moving average price is $40.13. The stock has a market capitalization of $21.22 billion, a PE ratio of 18.96, a P/E/G ratio of 1.84 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.49%. Citizens Financial Group’s dividend payout ratio is presently 66.14%.

About Citizens Financial Group

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.