Pictet Asset Management Holding SA Has $12.17 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Pictet Asset Management Holding SA increased its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 278,000 shares of the bank’s stock after purchasing an additional 25,271 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of Citizens Financial Group worth $12,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Citizens Financial Group by 207.2% in the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after buying an additional 5,579,313 shares during the period. Norges Bank bought a new stake in Citizens Financial Group in the fourth quarter valued at approximately $243,431,000. State Street Corp increased its position in Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after purchasing an additional 1,615,144 shares during the period. Raymond James Financial Inc. acquired a new stake in Citizens Financial Group during the 4th quarter valued at approximately $56,483,000. Finally, Bank of New York Mellon Corp raised its holdings in Citizens Financial Group by 31.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank’s stock worth $155,051,000 after purchasing an additional 839,041 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CFG. Citigroup reduced their price objective on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Compass Point increased their price target on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays boosted their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler raised their target price on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial dropped their price target on 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. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average target price of $48.67.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $40.51 on Wednesday. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group, Inc. has a fifty-two week low of $32.06 and a fifty-two week high of $49.25. The firm’s 50-day simple moving average is $44.37 and its 200 day simple moving average is $44.17.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Citizens Financial Group’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.42 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.15%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

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.