38,583 Citizens Financial Group, Inc. $CFG Shares Acquired by StoneX Group Inc.

StoneX Group Inc. lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 96.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 78,640 shares of the bank’s stock after acquiring an additional 38,583 shares during the period. StoneX Group Inc.’s holdings in Citizens Financial Group were worth $5,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Citizens Financial Group in the 2nd quarter valued at about $3,415,046,000. Robeco Institutional Asset Management B.V. increased its holdings in Citizens Financial Group by 7,979.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock valued at $775,663,000 after acquiring an additional 12,014,785 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Citizens Financial Group by 1,252.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after acquiring an additional 8,523,938 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Citizens Financial Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after acquiring an additional 28,602 shares during the last quarter. Finally, Amundi raised its position in Citizens Financial Group by 31.2% during the second quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after acquiring an additional 875,666 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Down 0.8%

CFG opened at $63.34 on Friday. The firm has a market cap of $26.55 billion, a P/E ratio of 12.74, a PEG ratio of 0.58 and a beta of 0.74. The business’s fifty day simple moving average is $65.87 and its 200 day simple moving average is $65.64. Citizens Financial Group, Inc. has a 52 week low of $49.00 and a 52 week high of $75.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio is 41.85%.

Analyst Ratings Changes

CFG has been the topic of several recent research reports. Morgan Stanley reduced their price target on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Robert W. Baird increased their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. DA Davidson set a $82.00 price objective on shares of Citizens Financial Group in a research note on Monday, October 19th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a research report on Friday, October 30th. Finally, Stephens reduced their target price on Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 20th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.79.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions.

Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.

Citizens traces its history to High Street Bank, founded in Providence in 1828.