Citizens Financial Group, Inc. $CFG Position Lessened by LifeWealth Investments LLC

LifeWealth Investments LLC trimmed its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 21.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,299 shares of the bank’s stock after selling 2,846 shares during the period. LifeWealth Investments LLC’s holdings in Citizens Financial Group were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AustralianSuper Pty Ltd bought a new position in Citizens Financial Group during the first quarter valued at about $108,864,000. Assetmark Inc. raised its holdings in Citizens Financial Group by 11,167.0% during the first quarter. Assetmark Inc. now owns 1,347,537 shares of the bank’s stock valued at $55,209,000 after buying an additional 1,335,577 shares in the last quarter. AQR Capital Management LLC raised its holdings in Citizens Financial Group by 19.1% during the first quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock valued at $294,007,000 after buying an additional 1,180,390 shares in the last quarter. Nordea Investment Management AB raised its holdings in Citizens Financial Group by 20.7% during the second quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock valued at $287,932,000 after buying an additional 1,098,684 shares in the last quarter. Finally, Swedbank AB raised its holdings in Citizens Financial Group by 291.5% during the second quarter. Swedbank AB now owns 1,352,458 shares of the bank’s stock valued at $60,522,000 after buying an additional 1,006,999 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Down 0.5%

CFG stock opened at $50.59 on Thursday. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $55.24. The company has a market cap of $21.82 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.54 and a beta of 0.79. The business’s 50-day simple moving average is $51.53 and its 200 day simple moving average is $45.41. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 3.6%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 47.06%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group raised their target price on Citizens Financial Group from $57.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Wednesday, July 9th. Raymond James Financial set a $62.00 price target on Citizens Financial Group and gave the company a “strong-buy” rating in a research report on Tuesday, October 7th. Barclays raised their price target on Citizens Financial Group from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 16th. Finally, Evercore ISI raised their price target on Citizens Financial Group from $57.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.57.

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.