Citizens Financial Group, Inc. $CFG Stock Holdings Cut by AE Wealth Management LLC

AE Wealth Management LLC cut its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 2.5% during the 3rd quarter, Holdings Channel reports. The firm owned 416,930 shares of the bank’s stock after selling 10,733 shares during the period. AE Wealth Management LLC’s holdings in Citizens Financial Group were worth $22,164,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Citizens Financial Group by 1.5% in the second quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock worth $1,582,000 after buying an additional 512 shares during the period. Allspring Global Investments Holdings LLC raised its position in Citizens Financial Group by 37.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock valued at $25,284,000 after buying an additional 129,995 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Citizens Financial Group by 5.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,204 shares of the bank’s stock worth $38,315,000 after acquiring an additional 42,971 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Citizens Financial Group during the 3rd quarter worth about $60,434,000. Finally, Nordea Investment Management AB boosted its position in Citizens Financial Group by 20.7% during the 2nd quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock worth $287,932,000 after acquiring an additional 1,098,684 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.9%

Citizens Financial Group stock opened at $63.46 on Friday. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $65.88. The company’s fifty day moving average price is $58.83 and its two-hundred day moving average price is $53.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $27.26 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.51 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a return on equity of 7.89% and a net margin of 15.19%.The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. On average, analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 2.9%. Citizens Financial Group’s dividend payout ratio is presently 47.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. New Street Research set a $73.00 target price on Citizens Financial Group in a report on Thursday, January 22nd. Argus boosted their price objective on shares of Citizens Financial Group from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Raymond James Financial downgraded shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $62.00 to $66.00 in a research report on Wednesday, January 7th. DA Davidson lifted their target price on shares of Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, Truist Financial upped their price target on shares of Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price of $67.55.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.