Citizens Financial Group, Inc. $CFG Stake Increased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 1,344.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,283,586 shares of the bank’s stock after acquiring an additional 1,194,749 shares during the period. Retirement Systems of Alabama’s holdings in Citizens Financial Group were worth $81,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CFG. 55 North Private Wealth LLC raised its holdings in Citizens Financial Group by 4.6% during the 3rd quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock worth $244,000 after purchasing an additional 170 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its stake in shares of Citizens Financial Group by 0.3% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after purchasing an additional 174 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Citizens Financial Group by 3.4% in the 3rd quarter. Profund Advisors LLC now owns 5,263 shares of the bank’s stock valued at $336,000 after purchasing an additional 174 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Citizens Financial Group by 2.6% in the 3rd quarter. Parallel Advisors LLC now owns 7,111 shares of the bank’s stock valued at $453,000 after purchasing an additional 181 shares during the last quarter. Finally, Trustmark Bank Trust Department boosted its stake in shares of Citizens Financial Group by 4.9% in the 2nd quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock valued at $300,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $65.27 on Tuesday. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.60 and a beta of 0.74. Citizens Financial Group, Inc. has a 52-week low of $49.00 and a 52-week high of $75.33. The stock’s 50 day moving average price is $65.78 and its two-hundred day moving average price is $65.65. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86.

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

Citizens Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.52 per share. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s payout ratio is currently 41.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD Cowen began coverage on shares of Citizens Financial Group in a research note on Thursday, October 8th. They set a “buy” rating and a $75.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a report on Friday, October 2nd. UBS Group cut their price target on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citizens Financial Group in a report on Friday, October 30th. Finally, DA Davidson set a $82.00 price objective on Citizens Financial Group in a research report on Monday, October 19th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.79.

Citizens Financial Group 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.