Capital Research & Management Co has recently announced that it has increased stake in Citizens Financial Group Inc (NYSE:CFG) by 53.16%. After grabbing 33.96 million shares, the institutional investor is now in possession of 11.79 million shares of the Financial Company. The new investment brought the stake of investor firm to 7.28% having worth around $926.03 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.34 million to have a control over 25.53 million shares. And Hotchkis & Wiley Capital Manageme raised its holdings to 1.56 million shares by acquiring 17.62 million shares or 3.78% of the stake.
Citizens Financial Group Inc (CFG) concluded trading on 12/28/23 at a closing price of $33.57, with 2.15 million shares of worth about $72.22 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 29.46% during that period and on Thursday the price saw a loss of about -0.21%. Currently the company’s common shares owned by public are about 492.28M shares, out of which, 463.10M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the CFG stock and their offered price forecasts bring an average price target of $33.47. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $42.00 and could fall to a lowest price of $25.00. The stock’s current price level is -0.69% below of average price target set by the analysts, while a dip to estimated low would result in loss of -34.28% for the stock. However, touching the estimated high of $42.00 would mean a gain of 20.07% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 115 times over the past 12 months. They bought 860,781 shares in 84 of the transactions. In 31 selling transactions, insiders dumped 446,285 shares.
Vanguard Total Stock Market ETF, Washington Mutual Investors Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Citizens Financial Group Inc Vanguard Total Stock Market ETF is currently holding 14.04 million shares of worth totaling $382.8 million. The company recently came buying 16594.0 shares which brought its stake up to 3.01% of the company’s outstanding shares. Washington Mutual Investors Fund sold 37459.0 shares, after which its hold over company’s outstanding shares shrunk to 2.96%, leaving 13.81 million shares with the mutual fund that have a worth of about $376.48 million. Vanguard 500 Index Fund, after buying 11.4 million shares, have now control over 2.45% of the stake in the company. It holds 50095.0 shares of worth $310.93 million.
Citizens Financial Group Inc (NYSE: CFG) started trading at $33.45, below -$0.19 from concluding price of the previous day. However, the stock later moved at a day high price of 33.70, or with a loss of -0.21%. Stock saw a price change of 3.68% in past 5 days and over the past one month there was a price change of 26.30%. Year-to-date (YTD), CFG shares are showing a performance of -14.73% which decreased to -14.38% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.77 but also hit the highest price of $44.82 during that period. The average intraday trading volume for Citizens Financial Group Inc shares is 5.66 million. The stock is currently trading 8.65% above its 20-day simple moving average (SMA20), while that difference is up 21.64% for SMA50 and it goes to 19.60% higher than SMA200.
Capital Research & Management Co acquired 33.96 million shares of Citizens Financial Group Inc having value of about $926.03 million. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 11.79 million shares in the company valued at close to $395692812.72, or have control over 53.16% stake in the company. Citizens Financial Group Inc (NYSE: CFG) currently have 492.28M outstanding shares and institutions hold larger chunk of about 96.53% of that. Holding of mutual funds in the company is about 37.96% while other institutional holders and individual stake holders have control over 59.43% and 26.72% of the stake respectively.
The stock has a current market capitalization of $15.65B and its 3Y-monthly beta is at 1.40. PE ratio of stock for trailing 12 months is 8.34, while it has posted earnings per share of $4.03 in the same period. Its PEG reads 9.81 while making debt-to-equity ratio of 0.77. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CFG, volatility over the week remained 1.72% while standing at 3.12% over the month.
Analysts are in expectations that Citizens Financial Group Inc (CFG) stock would likely to be making an EPS of $0.72 in the current quarter, while forecast for next quarter EPS is $0.78 and it is $3.38 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.36 which is $0.9 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.25 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -14.46% while it is estimated to decrease by -3.51% in next year. EPS is likely to shrink at an annualized rate of 0.85% for next 5-years, compared to annual growth of 4.75% made by the stock over the past 5-years.
Analysts at 22 brokerage firms have issued recommendations for the Citizens Financial Group Inc (CFG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.09. Out of those 22 Wall Street analysts, 9 recommended a “Buy” rating, while 11 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on December 04, 2023 offering an Equal-weight rating for the stock and assigned a target price of $31 to it.
