Advisors Asset Management Inc. Trims Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Advisors Asset Management Inc. lowered its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 49.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,275 shares of the bank’s stock after selling 4,208 shares during the period. Advisors Asset Management Inc.’s holdings in Citizens Financial Group were worth $176,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Commerce Bank grew its stake in Citizens Financial Group by 1.9% during the third quarter. Commerce Bank now owns 13,177 shares of the bank’s stock valued at $541,000 after acquiring an additional 250 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Citizens Financial Group by 12.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock valued at $84,000 after purchasing an additional 264 shares during the period. ZWJ Investment Counsel Inc. grew its position in shares of Citizens Financial Group by 0.3% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock valued at $3,648,000 after purchasing an additional 308 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of Citizens Financial Group by 2.1% in the third quarter. Empirical Finance LLC now owns 16,076 shares of the bank’s stock worth $660,000 after purchasing an additional 330 shares during the period. Finally, Abich Financial Wealth Management LLC raised its position in shares of Citizens Financial Group by 11.5% in the second quarter. Abich Financial Wealth Management LLC now owns 3,250 shares of the bank’s stock worth $117,000 after buying an additional 334 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CFG shares. DA Davidson boosted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada raised their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Hold” and an average target price of $45.47.

Citizens Financial Group Stock Down 0.1 %

Shares of NYSE:CFG opened at $48.11 on Friday. Citizens Financial Group, Inc. has a 12-month low of $26.99 and a 12-month high of $49.25. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $43.54 and its 200-day moving average price is $40.21. The stock has a market capitalization of $21.20 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 1.83 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.49%. Citizens Financial Group’s dividend payout ratio is currently 66.14%.

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.