NFJ Investment Group LLC Sells 208,886 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

NFJ Investment Group LLC lowered its position in Citizens Financial Group, Inc. (NYSE:CFG) by 48.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,658 shares of the bank’s stock after selling 208,886 shares during the period. NFJ Investment Group LLC’s holdings in Citizens Financial Group were worth $9,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Innealta Capital LLC bought a new position in shares of Citizens Financial Group in the second quarter worth about $25,000. Costello Asset Management INC bought a new position in Citizens Financial Group in the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC bought a new position in Citizens Financial Group in the 3rd quarter worth about $27,000. Catalyst Capital Advisors LLC purchased a new position in shares of Citizens Financial Group during the third quarter worth approximately $28,000. Finally, Private Ocean LLC raised its stake in shares of Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after acquiring an additional 838 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $46.78 on Wednesday. Citizens Financial Group, Inc. has a 12-month low of $27.97 and a 12-month high of $49.25. The business’s fifty day simple moving average is $43.78 and its 200-day simple moving average is $40.41. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market cap of $20.62 billion, a PE ratio of 18.42, a PEG ratio of 1.79 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. Analysts expect that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s payout ratio is currently 66.14%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their price target on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Citigroup lifted their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Piper Sandler increased their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Barclays boosted their price target on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.80.

Citizens Financial Group 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.