Abich Financial Wealth Management LLC Has $117,000 Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Abich Financial Wealth Management LLC lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 11.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,250 shares of the bank’s stock after purchasing an additional 334 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Citizens Financial Group were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital International Investors lifted its position in shares of Citizens Financial Group by 4.4% in the 1st quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after acquiring an additional 1,552,333 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Citizens Financial Group by 96.3% in the fourth quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock valued at $81,932,000 after purchasing an additional 1,212,642 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Citizens Financial Group by 3,234.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock worth $39,669,000 after buying an additional 1,067,971 shares during the period. KBC Group NV grew its holdings in shares of Citizens Financial Group by 163.9% during the fourth quarter. KBC Group NV now owns 1,352,602 shares of the bank’s stock valued at $44,825,000 after buying an additional 840,103 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Citizens Financial Group by 680.1% during the second quarter. National Bank of Canada FI now owns 803,919 shares of the bank’s stock valued at $28,804,000 after buying an additional 700,860 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Activity at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now owns 33,620 shares in the company, valued at approximately $1,454,401.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group Stock Down 0.8 %

CFG stock opened at $40.75 on Wednesday. The stock has a market capitalization of $18.27 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. The company has a 50-day moving average of $41.20 and a two-hundred day moving average of $37.26. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $43.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. Citizens Financial Group’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI upped their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Jefferies Financial Group lifted their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price target on shares of Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley boosted their target price on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Citizens Financial Group presently has a consensus rating of “Hold” and a consensus price target of $42.20.

About Citizens Financial Group

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.