California Public Employees Retirement System Sells 78,093 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

California Public Employees Retirement System decreased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 10.0% in the 4th quarter, Holdings Channel reports. The fund owned 705,313 shares of the bank’s stock after selling 78,093 shares during the quarter. California Public Employees Retirement System’s holdings in Citizens Financial Group were worth $30,864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameliora Wealth Management Ltd. bought a new position in Citizens Financial Group during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Citizens Financial Group during the fourth quarter worth about $28,000. Sierra Ocean LLC bought a new position in shares of Citizens Financial Group during the fourth quarter worth about $47,000. Legacy Investment Solutions LLC acquired a new stake in Citizens Financial Group in the 3rd quarter valued at approximately $48,000. Finally, Duncker Streett & Co. Inc. bought a new stake in Citizens Financial Group in the 4th quarter valued at approximately $51,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Price Performance

Shares of CFG opened at $41.66 on Thursday. The firm has a market capitalization of $18.21 billion, a PE ratio of 13.75, a PEG ratio of 0.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day moving average is $44.26 and its 200-day moving average is $44.15. Citizens Financial Group, Inc. has a fifty-two week low of $32.06 and a fifty-two week high of $49.25.

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

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.42 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 4.03%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup lowered 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 report on Monday, March 24th. Compass Point lifted their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Raymond James restated a “strong-buy” rating and issued a $58.00 price objective (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Stephens reiterated an “overweight” rating and set a $53.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 29th. Finally, Truist Financial reduced their price target on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.67.

About Citizens Financial Group

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.