HB Wealth Management LLC Acquires 8,030 Shares of Citizens Financial Group, Inc. $CFG

HB Wealth Management LLC grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 26.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,947 shares of the bank’s stock after purchasing an additional 8,030 shares during the period. HB Wealth Management LLC’s holdings in Citizens Financial Group were worth $2,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System boosted its position in shares of Citizens Financial Group by 9.0% during the first quarter. New York State Teachers Retirement System now owns 393,918 shares of the bank’s stock valued at $23,623,000 after buying an additional 32,428 shares during the last quarter. Private Advisor Group LLC lifted its stake in Citizens Financial Group by 0.5% during the 1st quarter. Private Advisor Group LLC now owns 57,866 shares of the bank’s stock valued at $3,470,000 after acquiring an additional 311 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Citizens Financial Group during the 1st quarter valued at about $3,113,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Citizens Financial Group by 86.6% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 128,884 shares of the bank’s stock valued at $7,729,000 after acquiring an additional 59,800 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Citizens Financial Group during the 1st quarter valued at about $284,000. 94.90% of the stock is owned by institutional investors.

Insider Activity at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by insiders.

Citizens Financial Group Trading Up 1.6%

Shares of NYSE:CFG opened at $72.11 on Tuesday. The stock has a 50 day moving average of $65.26 and a 200 day moving average of $62.88. The company has a market cap of $30.49 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. Citizens Financial Group, Inc. has a 12-month low of $45.90 and a 12-month high of $72.46. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business earned $0.77 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts expect that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio is 43.50%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CFG. Royal Bank Of Canada increased their price objective on shares of Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. DA Davidson increased their price target on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 20th. Citigroup downgraded Citizens Financial Group from a “buy” rating to a “neutral” rating in a research note on Monday. Stephens initiated coverage on Citizens Financial Group in a report on Monday, June 15th. They issued an “equal weight” rating for the company. Finally, Morgan Stanley boosted their target price on shares of Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.35.

Citizens Financial Group Company 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.