Wellington Management Group LLP Acquires 2,298,040 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Wellington Management Group LLP increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,570,083 shares of the bank’s stock after purchasing an additional 2,298,040 shares during the quarter. Wellington Management Group LLP owned approximately 2.42% of Citizens Financial Group worth $462,547,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. D.A. Davidson & CO. bought a new stake in shares of Citizens Financial Group during the third quarter valued at approximately $209,000. Townsquare Capital LLC boosted its position in shares of Citizens Financial Group by 22.0% during the 3rd quarter. Townsquare Capital LLC now owns 19,846 shares of the bank’s stock valued at $815,000 after acquiring an additional 3,580 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Citizens Financial Group during the third quarter valued at $227,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Citizens Financial Group by 48.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,529 shares of the bank’s stock worth $4,745,000 after buying an additional 37,517 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Citizens Financial Group by 1.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 78,414 shares of the bank’s stock valued at $3,220,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 1.9 %

Shares of NYSE:CFG opened at $41.01 on Tuesday. The firm’s 50-day simple moving average is $44.53 and its 200-day simple moving average is $44.17. The company has a market cap of $17.92 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.81 and a beta of 1.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a fifty-two week low of $32.06 and a fifty-two week high of $49.25.

Citizens Financial Group (NYSE:CFG) last released its quarterly 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 return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the business posted $0.85 earnings per share. Citizens Financial Group’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CFG shares. Keefe, Bruyette & Woods raised their price objective on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. Stephens reaffirmed an “overweight” rating and issued a $53.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Truist Financial dropped their target price on shares of Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Piper Sandler boosted their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.67.

Citizens Financial Group Company Profile

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.