Wellington Management Group LLP Has $191.68 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Wellington Management Group LLP trimmed its position in Citizens Financial Group, Inc. (NYSE:CFG) by 27.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,784,055 shares of the bank’s stock after selling 2,194,355 shares during the period. Wellington Management Group LLP owned approximately 1.26% of Citizens Financial Group worth $191,684,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Citizens Financial Group by 1.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock valued at $707,000 after acquiring an additional 393 shares during the period. Wealthspire Advisors LLC raised its position in shares of Citizens Financial Group by 4.1% in the 4th quarter. Wealthspire Advisors LLC now owns 11,071 shares of the bank’s stock valued at $367,000 after acquiring an additional 439 shares during the period. Connable Office Inc. raised its position in shares of Citizens Financial Group by 2.6% in the 4th quarter. Connable Office Inc. now owns 17,319 shares of the bank’s stock valued at $574,000 after acquiring an additional 443 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Citizens Financial Group by 40.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock valued at $54,000 after acquiring an additional 472 shares during the period. Finally, Highlander Capital Management LLC raised its position in shares of Citizens Financial Group by 19.6% in the 4th quarter. Highlander Capital Management LLC now owns 3,056 shares of the bank’s stock valued at $101,000 after acquiring an additional 500 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Price Performance

NYSE:CFG opened at $34.77 on Wednesday. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $37.30. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $34.87 and a 200 day simple moving average of $33.49. The stock has a market capitalization of $15.82 billion, a PE ratio of 12.60, a P/E/G ratio of 1.32 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business posted $1.00 earnings per share. Citizens Financial Group’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, research analysts expect that Citizens Financial Group, Inc. will post 3.16 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.83%. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction on Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now directly owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup raised their target price on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Evercore ISI raised their target price on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Piper Sandler upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $41.00 in a report on Friday, April 26th. Keefe, Bruyette & Woods raised their target price on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Hold” and a consensus price target of $37.67.

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.