Alethea Capital Management LLC Acquires New Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Alethea Capital Management LLC purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,536 shares of the bank's stock, valued at approximately $461,000. Citizens Financial Group accounts for about 0.4% of Alethea Capital Management LLC's holdings, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. My Legacy Advisors LLC lifted its holdings in shares of Citizens Financial Group by 1.0% in the fourth quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank's stock valued at $1,074,000 after purchasing an additional 229 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Citizens Financial Group by 3.3% during the 4th quarter. Brooklyn Investment Group now owns 7,304 shares of the bank's stock worth $320,000 after acquiring an additional 233 shares during the last quarter. 1620 Investment Advisors Inc. grew its stake in shares of Citizens Financial Group by 3.2% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank's stock worth $338,000 after acquiring an additional 238 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of Citizens Financial Group by 0.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank's stock valued at $1,257,000 after purchasing an additional 246 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of Citizens Financial Group by 3.3% during the fourth quarter. Ballentine Partners LLC now owns 7,777 shares of the bank's stock valued at $340,000 after purchasing an additional 247 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on CFG shares. Argus set a $45.00 price objective on shares of Citizens Financial Group in a research note on Thursday, April 24th. Piper Sandler cut their price objective on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Citigroup decreased their target price on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Barclays reduced their price target on shares of Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, Stephens dropped their price objective on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.18.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock remained flat at $39.00 on Friday. 2,005,647 shares of the stock traded hands, compared to its average volume of 4,707,858. The firm has a 50 day moving average of $38.54 and a 200-day moving average of $43.17. Citizens Financial Group, Inc. has a 1 year low of $32.60 and a 1 year high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $17.05 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.31%. Citizens Financial Group's dividend payout ratio (DPR) is 53.33%.

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.