The Manufacturers Life Insurance Company Lowers Position in Citizens Financial Group, Inc. (NYSE:CFG)

The Manufacturers Life Insurance Company lowered its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 6.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,156,427 shares of the bank’s stock after selling 73,901 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Citizens Financial Group were worth $47,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. AQR Capital Management LLC grew its position in Citizens Financial Group by 61.4% during the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after acquiring an additional 1,682,886 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Citizens Financial Group by 3,234.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock worth $39,669,000 after acquiring an additional 1,067,971 shares during the period. Bank of Montreal Can grew its holdings in shares of Citizens Financial Group by 51.1% in the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after acquiring an additional 894,322 shares during the period. National Bank of Canada FI increased its position in Citizens Financial Group by 680.1% in the second quarter. National Bank of Canada FI now owns 803,919 shares of the bank’s stock worth $28,804,000 after buying an additional 700,860 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Citizens Financial Group by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock worth $159,550,000 after buying an additional 587,115 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

CFG has been the subject of a number of analyst reports. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. The Goldman Sachs Group upped their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays upped their price objective on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. DA Davidson upped their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upped their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.47.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $48.16 on Friday. The stock has a 50 day moving average of $43.41 and a 200 day moving average of $40.13. Citizens Financial Group, Inc. has a 12 month low of $26.13 and a 12 month high of $49.25. The firm has a market cap of $21.22 billion, a PE ratio of 18.96, a PEG ratio of 1.84 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. The company had revenue of $1.90 billion during 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 revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. On average, research analysts expect that Citizens Financial Group, Inc. will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

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.