Healthcare of Ontario Pension Plan Trust Fund boosted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 50,964.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 owned approximately 0.06% of Citizens Financial Group worth $9,550,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in shares of Citizens Financial Group by 16.0% in the 4th quarter. Morgan Stanley now owns 9,355,790 shares of the bank’s stock valued at $334,564,000 after buying an additional 1,292,344 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Citizens Financial Group by 8.8% during the fourth quarter. Nuveen Asset Management LLC now owns 5,704,661 shares of the bank’s stock valued at $203,999,000 after acquiring an additional 460,267 shares during the last quarter. Northern Trust Corp boosted its stake in Citizens Financial Group by 0.7% in the fourth quarter. Northern Trust Corp now owns 5,258,655 shares of the bank’s stock valued at $188,050,000 after acquiring an additional 36,720 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Citizens Financial Group by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,639,638 shares of the bank’s stock worth $130,146,000 after purchasing an additional 88,685 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Citizens Financial Group by 0.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,418,433 shares of the bank’s stock worth $122,243,000 after purchasing an additional 14,087 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on CFG shares. DA Davidson raised their price objective on Citizens Financial Group from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. Stephens raised their price target on Citizens Financial Group from $45.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 30th. Barclays upped their price objective on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday. Compass Point upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Friday, February 12th. Finally, Argus boosted their target price on shares of Citizens Financial Group from $34.00 to $47.00 in a research report on Thursday, January 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.08. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. Citizens Financial Group had a return on equity of 5.30% and a net margin of 13.04%. During the same quarter last year, the business posted $0.98 EPS. As a group, equities analysts expect that Citizens Financial Group, Inc. will post 2.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 17th. Stockholders of record on Wednesday, February 3rd were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, February 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.47%. Citizens Financial Group’s payout ratio is 40.63%.
Citizens Financial Group declared that its board has authorized a share repurchase plan on Wednesday, January 20th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the bank to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Citizens Financial Group Company 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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