MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 49,637 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in Citizens Financial Group, Inc. (NYSE:CFG) by 79.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,625 shares of the bank’s stock after selling 49,637 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Citizens Financial Group were worth $550,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp purchased a new stake in Citizens Financial Group during the 4th quarter valued at $8,134,000. Versor Investments LP bought a new position in Citizens Financial Group in the 3rd quarter worth $1,910,000. Nordea Investment Management AB boosted its holdings in shares of Citizens Financial Group by 19.3% during the 4th 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 last quarter. Franklin Resources Inc. raised its position in shares of Citizens Financial Group by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 655,600 shares of the bank’s stock valued at $28,368,000 after buying an additional 29,940 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Citizens Financial Group in the 3rd quarter worth about $590,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 0.2 %

Shares of NYSE CFG opened at $47.44 on Friday. Citizens Financial Group, Inc. has a 12-month low of $30.24 and a 12-month high of $49.25. The stock has a market cap of $20.91 billion, a PE ratio of 15.66, a P/E/G ratio of 0.82 and a beta of 1.10. 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 company has a 50-day moving average of $45.73 and a 200 day moving average of $42.94.

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, beating 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 business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1,962,330 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 3.94 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.54%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

Wall Street Analyst Weigh In

CFG has been the topic of a number of research reports. Truist Financial raised their target price on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday. Citigroup boosted their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Raymond James restated a “strong-buy” rating and set a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Nine investment 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 stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average target price of $49.00.

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.