Ferguson Wellman Capital Management Inc. bought a new position in Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,300 shares of the bank’s stock, valued at approximately $602,000.
A number of other institutional investors and hedge funds have also modified their holdings of CFG. Capital World Investors increased its holdings in shares of Citizens Financial Group by 76.0% in the 1st quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock worth $861,383,000 after purchasing an additional 8,203,831 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Citizens Financial Group by 444.3% in the second quarter. Prudential Financial Inc. now owns 2,852,267 shares of the bank’s stock worth $101,799,000 after acquiring an additional 2,328,251 shares during the period. Eaton Vance Management grew its holdings in shares of Citizens Financial Group by 899.7% in the third quarter. Eaton Vance Management now owns 2,319,890 shares of the bank’s stock worth $79,712,000 after acquiring an additional 2,087,841 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of Citizens Financial Group by 186.0% in the third quarter. Neuberger Berman Group LLC now owns 2,481,413 shares of the bank’s stock worth $85,275,000 after acquiring an additional 1,613,783 shares during the period. Finally, Amundi grew its holdings in shares of Citizens Financial Group by 18.1% in the second quarter. Amundi now owns 10,174,475 shares of the bank’s stock worth $355,395,000 after acquiring an additional 1,558,994 shares during the period. Institutional investors own 88.96% of the company’s stock.
Citizens Financial Group Price Performance
Shares of Citizens Financial Group stock opened at $30.96 on Thursday. The stock’s 50-day simple moving average is $40.25 and its 200-day simple moving average is $39.16. Citizens Financial Group, Inc. has a 52 week low of $29.72 and a 52 week high of $49.85. The company has a market capitalization of $14.99 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 2.34 and a beta of 1.37. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.73.
Citizens Financial Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st were given a $0.42 dividend. The ex-dividend date was Monday, January 30th. This represents a $1.68 annualized dividend and a dividend yield of 5.43%. Citizens Financial Group’s payout ratio is 41.18%.
Citizens Financial Group announced that its board has approved a share repurchase program on Friday, February 17th that permits the company to repurchase $1.15 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 5.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages recently commented on CFG. Wedbush lowered Citizens Financial Group from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Tuesday, January 3rd. Piper Sandler lifted their price objective on Citizens Financial Group from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Morgan Stanley lifted their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, December 5th. DA Davidson assumed coverage on Citizens Financial Group in a report on Wednesday, December 21st. They issued a “buy” rating and a $47.00 price objective for the company. Finally, Citigroup boosted their price target on Citizens Financial Group from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 22nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $48.17.
Insider Buying and Selling
In related news, Director Kevin Cummings sold 90,689 shares of the business’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $43.00, for a total value of $3,899,627.00. Following the sale, the director now directly owns 455,789 shares in the company, valued at $19,598,927. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by company insiders.
About Citizens Financial Group
Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.
Featured Stories
- Get a free copy of the StockNews.com research report on Citizens Financial Group (CFG)
- What is the Consumer Staples Sector?
- What is a Consumer Staples Index Fund?
- Bitcoin Might Better Than Bitcoin Stocks and ETFs,
- GameStop Shares Surge On Surprise Profit
- Nike, Inc’s Q3 Surprise Isn’t All That Surprising: Is It A Buy?
Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG – Get Rating).
Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.
