Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 50,964.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 267,066 shares of the bank’s stock after purchasing an additional 266,543 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Citizens Financial Group were worth $9,550,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Citizens Financial Group by 2.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 567,631 shares of the bank’s stock valued at $18,448,000 after purchasing an additional 15,663 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Citizens Financial Group by 25.8% in the third quarter. Public Sector Pension Investment Board now owns 51,711 shares of the bank’s stock valued at $1,307,000 after buying an additional 10,600 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Citizens Financial Group by 8.9% in the third quarter. Advisors Asset Management Inc. now owns 16,836 shares of the bank’s stock valued at $426,000 after acquiring an additional 1,371 shares during the period. Polar Capital LLP grew its position in shares of Citizens Financial Group by 8.7% during the third quarter. Polar Capital LLP now owns 152,473 shares of the bank’s stock worth $3,855,000 after acquiring an additional 12,156 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at $2,153,000. 92.77% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on CFG. Royal Bank of Canada raised their price objective on shares of Citizens Financial Group from $29.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, January 21st. They noted that the move was a valuation call. UBS Group cut Citizens Financial Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 12th. Zacks Investment Research cut Citizens Financial Group from a “strong-buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Tuesday, March 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Citizens Financial Group from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, April 1st. Finally, Credit Suisse Group upped their price target on Citizens Financial Group from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $43.63.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Tuesday, January 19th. The bank reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. Citizens Financial Group had a net margin of 13.04% and a return on equity of 5.30%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Equities analysts anticipate that Citizens Financial Group, Inc. will post 2.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 17th. Investors of record on Wednesday, February 3rd were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, February 2nd. This represents a $1.56 annualized dividend and a yield of 3.47%. Citizens Financial Group’s dividend payout ratio is presently 40.63%.
Citizens Financial Group declared that its board has initiated a stock repurchase program on Wednesday, January 20th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the bank to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment offers traditional banking products and services, including checking and savings accounts, home and education loans, credit cards, business loans, mortgage and home equity lending, and unsecured product finance and personal loans, as well as wealth management and investment services to retail customers and small businesses.
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