Citizens Financial Group, Inc. $CFG Stock: International Assets Investment Management LLC Raises Stake

International Assets Investment Management LLC boosted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 3,724.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,672 shares of the bank’s stock after buying an additional 136,020 shares during the period. International Assets Investment Management LLC’s holdings in Citizens Financial Group were worth $8,905,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CFG. BlackRock Inc. acquired a new position in shares of Citizens Financial Group during the second quarter valued at $3,415,046,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Citizens Financial Group by 7,979.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock worth $775,663,000 after acquiring an additional 12,014,785 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Citizens Financial Group by 1,252.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after acquiring an additional 8,523,938 shares during the period. Dimensional Fund Advisors LP lifted its position in Citizens Financial Group by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock valued at $282,927,000 after purchasing an additional 28,602 shares during the last quarter. Finally, Amundi lifted its position in Citizens Financial Group by 31.2% in the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock valued at $258,265,000 after purchasing an additional 875,666 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Performance

CFG stock opened at $63.34 on Friday. The company has a market capitalization of $26.55 billion, a P/E ratio of 12.74, a PEG ratio of 0.58 and a beta of 0.74. The company has a 50-day simple moving average of $65.87 and a 200 day simple moving average of $65.64. Citizens Financial Group, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $75.33. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same quarter in the prior year, the firm posted $1.05 EPS. Sell-side analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s payout ratio is 41.85%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CFG shares. Bank of America reduced their target price on shares of Citizens Financial Group from $82.00 to $76.00 in a research note on Thursday, October 8th. Truist Financial reduced their price objective on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. UBS Group decreased their price objective on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a report on Monday, October 5th. DA Davidson set a $82.00 price objective on Citizens Financial Group in a report on Monday, October 19th. Finally, Citigroup lowered their target price on Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.79.

Citizens Financial Group Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions.

Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.

Citizens traces its history to High Street Bank, founded in Providence in 1828.