Eurizon Capital SGR S.p.A. Acquires 688,217 Shares of Citizens Financial Group, Inc. $CFG

Eurizon Capital SGR S.p.A. raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 262.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 950,535 shares of the bank’s stock after purchasing an additional 688,217 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Citizens Financial Group were worth $60,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CFG. BlackRock Inc. acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $3,415,046,000. Robeco Institutional Asset Management B.V. raised its stake in 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 valued at $775,663,000 after acquiring an additional 12,014,785 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Citizens Financial Group by 1,252.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after purchasing an additional 8,523,938 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Citizens Financial Group by 0.6% during 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, Fifth Third Bancorp lifted its holdings in Citizens Financial Group by 4,720.9% during the 3rd quarter. Fifth Third Bancorp now owns 4,672,049 shares of the bank’s stock valued at $297,890,000 after purchasing an additional 4,575,137 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $64.95 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s fifty day moving average price is $65.55 and its two-hundred day moving average price is $65.68. Citizens Financial Group, Inc. has a one year low of $49.00 and a one year high of $75.33. The firm has a market cap of $27.23 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 0.60 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same quarter last year, the firm earned $1.05 earnings per share. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.52 per share. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s payout ratio is 41.85%.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of research analyst reports. Truist Financial reduced their price objective on shares of 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. Stephens dropped their price objective on shares of Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. Evercore set a $74.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, October 27th. TD Cowen initiated coverage on shares of Citizens Financial Group in a research note on Thursday, October 8th. They set a “buy” rating and a $75.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Citizens Financial Group presently has a consensus 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.