Allianz Asset Management GmbH Trims Position in Citizens Financial Group, Inc. $CFG

Key Points

• Allianz Asset Management GmbH reduced its holdings in Citizens Financial Group by 5.6%, now owning approximately 0.13% of the company, valued at $25.6 million.
• Citizens Financial Group declared an increase in its quarterly dividend from $0.42 to $0.46, representing a dividend yield of 3.7%.
• Several research analysts have given Citizens Financial Group a consensus rating of "Moderate Buy" with an average price target of $56.57.

Allianz Asset Management GmbH reduced its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 572,759 shares of the bank's stock after selling 34,287 shares during the quarter. Allianz Asset Management GmbH owned about 0.13% of Citizens Financial Group worth $25,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Morningstar Investment Management LLC purchased a new position in shares of Citizens Financial Group in the 2nd quarter worth $348,000. NorthRock Partners LLC raised its position in shares of Citizens Financial Group by 19.3% in the 2nd quarter. NorthRock Partners LLC now owns 6,908 shares of the bank's stock worth $309,000 after buying an additional 1,116 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Citizens Financial Group by 29.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,995 shares of the bank's stock worth $1,432,000 after buying an additional 7,281 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of Citizens Financial Group in the 2nd quarter worth $1,450,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Citizens Financial Group by 11.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 69,778 shares of the bank's stock worth $3,128,000 after buying an additional 7,003 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stephens reaffirmed an "overweight" rating and issued a $60.00 target price on shares of Citizens Financial Group in a research report on Thursday. DA Davidson reissued a "buy" rating and issued a $59.00 price objective on shares of Citizens Financial Group in a research report on Thursday. JPMorgan Chase & Co. raised Citizens Financial Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $48.50 to $52.00 in a research report on Friday, August 1st. Raymond James Financial set a $62.00 price objective on Citizens Financial Group and gave the company a "strong-buy" rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods raised Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price objective on the stock in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of "Moderate Buy" and an average price target of $56.57.

Citizens Financial Group Trading Up 1.8%

Shares of CFG opened at $49.26 on Friday. The company has a market capitalization of $21.25 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.55 and a beta of 0.79. Citizens Financial Group, Inc. has a one year low of $32.60 and a one year high of $55.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a 50-day moving average price of $51.37 and a 200 day moving average price of $45.16.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.02. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.Citizens Financial Group's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 earnings per share. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be issued a $0.46 dividend. This is an increase from Citizens Financial Group's previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, October 29th. Citizens Financial Group's dividend payout ratio (DPR) is currently 51.54%.

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.

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