Morningstar Investment Management LLC Sells 23,654 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Morningstar Investment Management LLC decreased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 75.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,735 shares of the bank’s stock after selling 23,654 shares during the period. Morningstar Investment Management LLC’s holdings in Citizens Financial Group were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in shares of Citizens Financial Group by 558.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,712 shares of the bank’s stock worth $70,000 after purchasing an additional 1,452 shares in the last quarter. Creative Planning increased its stake in Citizens Financial Group by 1.1% in the 3rd quarter. Creative Planning now owns 208,476 shares of the bank’s stock worth $8,562,000 after buying an additional 2,245 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Citizens Financial Group by 5.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 11,939 shares of the bank’s stock worth $490,000 after buying an additional 668 shares during the period. Blue Trust Inc. lifted its position in shares of Citizens Financial Group by 103.6% in the 3rd quarter. Blue Trust Inc. now owns 10,203 shares of the bank’s stock worth $419,000 after purchasing an additional 5,192 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Citizens Financial Group by 8.0% during the 3rd quarter. Signaturefd LLC now owns 5,954 shares of the bank’s stock worth $245,000 after acquiring an additional 439 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of recent analyst reports. Stephens reiterated an “overweight” rating and issued a $53.00 target price on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Citigroup increased their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 21st. Piper Sandler lifted their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Compass Point upped their price objective on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.00.

Citizens Financial Group Stock Up 1.4 %

Shares of NYSE CFG opened at $47.47 on Thursday. Citizens Financial Group, Inc. has a 52 week low of $30.30 and a 52 week high of $49.25. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.81 and a beta of 1.10. The firm has a 50-day moving average price of $45.76 and a 200 day moving average price of $43.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.85 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 during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. Citizens Financial Group’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

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