Retirement Systems of Alabama trimmed its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,320 shares of the bank’s stock after selling 9,485 shares during the period. Retirement Systems of Alabama’s holdings in Citizens Financial Group were worth $6,874,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Citizens Financial Group by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 49,141,738 shares of the bank’s stock worth $2,254,131,000 after buying an additional 458,013 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Citizens Financial Group by 5.6% in the 2nd quarter. BlackRock Inc. now owns 41,566,633 shares of the bank’s stock valued at $1,906,660,000 after purchasing an additional 2,218,073 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Citizens Financial Group by 1.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,776,247 shares of the bank’s stock valued at $631,918,000 after purchasing an additional 151,757 shares during the period. Geode Capital Management LLC raised its holdings in shares of Citizens Financial Group by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 8,617,144 shares of the bank’s stock valued at $394,405,000 after purchasing an additional 427,826 shares during the period. Finally, FMR LLC raised its holdings in shares of Citizens Financial Group by 284.7% in the 2nd quarter. FMR LLC now owns 7,038,620 shares of the bank’s stock valued at $322,862,000 after purchasing an additional 5,208,964 shares during the period. Institutional investors own 91.26% of the company’s stock.
CFG has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Citizens Financial Group from $47.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 11th. Morgan Stanley upped their target price on shares of Citizens Financial Group from $61.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, December 6th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Buy” and a consensus price target of $51.12.
Shares of CFG opened at $47.25 on Friday. Citizens Financial Group, Inc. has a 12 month low of $34.92 and a 12 month high of $51.54. The firm’s 50 day moving average is $47.99 and its 200-day moving average is $46.04. The stock has a market capitalization of $20.14 billion, a PE ratio of 9.49, a P/E/G ratio of 0.42 and a beta of 1.62. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.
Citizens Financial Group (NYSE:CFG) last announced its earnings results on Tuesday, October 19th. The bank reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.02. Citizens Financial Group had a net margin of 31.99% and a return on equity of 10.99%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the firm earned $0.73 earnings per share. Equities research analysts predict that Citizens Financial Group, Inc. will post 5.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Friday, October 29th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, October 28th. This represents a $1.56 annualized dividend and a dividend yield of 3.30%. Citizens Financial Group’s dividend payout ratio is presently 31.33%.
About Citizens Financial Group
Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the following segments: Consumer Banking and Commercial Banking. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.
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