Mn Services Vermogensbeheer B.V. Trims Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Mn Services Vermogensbeheer B.V. decreased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,879 shares of the bank’s stock after selling 4,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Citizens Financial Group were worth $7,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its stake in Citizens Financial Group by 3.9% during the third quarter. QRG Capital Management Inc. now owns 46,059 shares of the bank’s stock worth $1,892,000 after buying an additional 1,734 shares during the period. Intact Investment Management Inc. acquired a new position in shares of Citizens Financial Group in the 3rd quarter worth approximately $70,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $292,000. Van ECK Associates Corp raised its position in Citizens Financial Group by 6.0% in the third quarter. Van ECK Associates Corp now owns 6,330 shares of the bank’s stock valued at $262,000 after purchasing an additional 361 shares during the period. Finally, Prossimo Advisors LLC lifted its stake in Citizens Financial Group by 24.0% during the third quarter. Prossimo Advisors LLC now owns 11,655 shares of the bank’s stock worth $479,000 after purchasing an additional 2,255 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 1.5 %

Shares of Citizens Financial Group stock opened at $42.22 on Wednesday. The company has a fifty day simple moving average of $41.50 and a 200-day simple moving average of $38.79. Citizens Financial Group, Inc. has a 12-month low of $24.61 and a 12-month high of $44.39. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.59 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $0.85 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 3.19 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is currently 66.14%.

Analyst Ratings Changes

Several research firms recently issued reports on CFG. Stephens increased their target price on Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Piper Sandler lifted their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays raised their price target on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, DA Davidson increased their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.80.

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.