Nippon Life Insurance Co. acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,007 shares of the bank’s stock, valued at approximately $871,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in CFG. Alps Advisors Inc. lifted its stake in Citizens Financial Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,875 shares of the bank’s stock valued at $459,000 after acquiring an additional 33 shares during the last quarter. Smithfield Trust Co. lifted its stake in shares of Citizens Financial Group by 1.4% in the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after buying an additional 70 shares during the last quarter. First Allied Advisory Services Inc. lifted its stake in shares of Citizens Financial Group by 1.1% in the second quarter. First Allied Advisory Services Inc. now owns 7,101 shares of the bank’s stock worth $250,000 after buying an additional 76 shares during the last quarter. Veritable L.P. lifted its stake in shares of Citizens Financial Group by 1.2% in the second quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock worth $229,000 after buying an additional 79 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Citizens Financial Group by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the bank’s stock worth $1,120,000 after buying an additional 100 shares during the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.
CFG has been the subject of several research analyst reports. TheStreet upgraded shares of Citizens Financial Group from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Tuesday, September 12th. Keefe, Bruyette & Woods set a $40.00 price target on shares of Citizens Financial Group and gave the company a “buy” rating in a report on Friday, August 11th. Barclays PLC boosted their price target on shares of Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Finally, BidaskClub lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $38.60.
Citizens Financial Group, Inc. (CFG) traded down $0.13 during midday trading on Friday, reaching $36.68. The company had a trading volume of 3,615,000 shares, compared to its average volume of 4,727,217. Citizens Financial Group, Inc. has a twelve month low of $29.05 and a twelve month high of $39.75. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.67. The company has a market cap of $18,110.20, a PE ratio of 14.90, a price-to-earnings-growth ratio of 0.94 and a beta of 1.35.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 20th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. Citizens Financial Group’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS. analysts anticipate that Citizens Financial Group, Inc. will post 2.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.96%. Citizens Financial Group’s dividend payout ratio is presently 29.15%.
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Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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