Teachers Retirement System of The State of Kentucky Reduces Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Teachers Retirement System of The State of Kentucky decreased its position in Citizens Financial Group, Inc. (NYSE:CFG) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,123,814 shares of the bank’s stock after selling 11,338 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Citizens Financial Group were worth $49,177,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Capital World Investors increased its holdings in Citizens Financial Group by 3.3% during the fourth quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock valued at $1,570,989,000 after buying an additional 1,131,838 shares during the last quarter. Geode Capital Management LLC lifted its position in Citizens Financial Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank’s stock valued at $477,043,000 after purchasing an additional 124,860 shares in the last quarter. Wellington Management Group LLP grew its holdings in Citizens Financial Group by 27.8% during the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock valued at $462,547,000 after purchasing an additional 2,298,040 shares during the period. Norges Bank purchased a new stake in Citizens Financial Group in the fourth quarter worth about $243,431,000. Finally, Nordea Investment Management AB lifted its position 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 buying an additional 805,758 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $35.43 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s fifty day moving average is $40.88 and its 200 day moving average is $43.61. The firm has a market capitalization of $15.49 billion, a PE ratio of 11.69, a PEG ratio of 0.81 and a beta of 0.81. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $49.25.

Citizens Financial Group (NYSE:CFG) last posted its quarterly 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 net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

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 $0.42 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.74%. Citizens Financial Group’s payout ratio is 53.33%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Citizens Financial Group from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Piper Sandler decreased their price target on Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods cut their target price on Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Raymond James reissued a “strong-buy” rating and issued a $48.00 price target (down from $58.00) on shares of Citizens Financial Group in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.82.

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.