Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,019 shares of the bank’s stock after acquiring an additional 998 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Citizens Financial Group were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in Citizens Financial Group by 207.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after acquiring an additional 5,579,313 shares in the last quarter. State Street Corp boosted its holdings in shares of Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after purchasing an additional 1,615,144 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Citizens Financial Group by 85.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock valued at $83,933,000 after purchasing an additional 942,662 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Citizens Financial Group by 51.1% in the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock valued at $107,897,000 after purchasing an additional 894,322 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Citizens Financial Group by 124.8% during the third quarter. BNP Paribas Financial Markets now owns 1,511,148 shares of the bank’s stock worth $62,063,000 after buying an additional 838,917 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CFG. Truist Financial raised their target price on Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. DA Davidson raised their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Citigroup boosted their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. The Goldman Sachs Group raised their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada upped their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.00.

Citizens Financial Group Stock Down 1.2 %

Shares of NYSE:CFG opened at $47.37 on Tuesday. The firm has a market capitalization of $20.88 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.84 and a beta of 1.10. Citizens Financial Group, Inc. has a 1 year low of $30.24 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50-day moving average is $45.77 and its two-hundred day moving average is $43.63.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share 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 for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Analysts predict that Citizens Financial Group, Inc. will post 3.93 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, January 31st. Citizens Financial Group’s payout ratio is currently 55.45%.

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.