AE Wealth Management LLC Boosts Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

AE Wealth Management LLC increased its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 20.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 527,969 shares of the bank's stock after buying an additional 90,554 shares during the period. AE Wealth Management LLC owned 0.12% of Citizens Financial Group worth $21,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital World Investors grew its stake in shares of Citizens Financial Group by 3.3% in the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock worth $1,570,989,000 after buying an additional 1,131,838 shares during the last quarter. Geode Capital Management LLC boosted its stake in Citizens Financial Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank's stock valued at $477,043,000 after purchasing an additional 124,860 shares during the last quarter. Wellington Management Group LLP boosted its stake in Citizens Financial Group by 27.8% during the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock valued at $462,547,000 after purchasing an additional 2,298,040 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Citizens Financial Group by 20.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank's stock valued at $423,733,000 after purchasing an additional 1,672,204 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Citizens Financial Group by 6.4% during the 4th quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank's stock valued at $273,378,000 after purchasing an additional 374,850 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Trading Up 0.4%

NYSE CFG traded up $0.20 during trading on Friday, hitting $49.48. The stock had a trading volume of 5,219,163 shares, compared to its average volume of 5,947,175. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $21.63 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 0.54 and a beta of 0.76. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $49.98. The stock has a 50 day simple moving average of $43.81 and a 200 day simple moving average of $42.60.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. Citizens Financial Group had a net margin of 13.26% and a return on equity of 6.94%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group declared that its board has initiated a stock buyback program on Friday, June 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, July 31st. Citizens Financial Group's dividend payout ratio (DPR) is 51.06%.

Analyst Ratings Changes

CFG has been the topic of several research analyst reports. DA Davidson increased their price target on Citizens Financial Group from $49.00 to $55.00 and gave the company a "buy" rating in a report on Friday, July 18th. The Goldman Sachs Group lowered their price target on Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Evercore ISI raised Citizens Financial Group from an "in-line" rating to an "outperform" rating and increased their price target for the company from $48.00 to $55.00 in a report on Friday, July 18th. Cowen started coverage on Citizens Financial Group in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Raymond James Financial raised their target price on Citizens Financial Group from $48.00 to $57.00 and gave the stock a "strong-buy" rating in a report on Friday, July 18th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.05.

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.