Citizens Financial Group, Inc. (NYSE:CFG) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 34.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,022 shares of the bank's stock after selling 21,640 shares during the period. Nisa Investment Advisors LLC's holdings in Citizens Financial Group were worth $1,681,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in Citizens Financial Group in the fourth quarter valued at about $26,000. Grove Bank & Trust grew its stake in shares of Citizens Financial Group by 97.1% in the first quarter. Grove Bank & Trust now owns 678 shares of the bank's stock valued at $28,000 after buying an additional 334 shares in the last quarter. Colonial Trust Co SC raised its holdings in shares of Citizens Financial Group by 673.0% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after buying an additional 774 shares during the period. NBT Bank N A NY acquired a new position in Citizens Financial Group during the 1st quarter worth approximately $45,000. Finally, Wayfinding Financial LLC purchased a new position in Citizens Financial Group in the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $47.63 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.83. Citizens Financial Group, Inc. has a 12 month low of $32.60 and a 12 month high of $49.25. The company has a fifty day moving average price of $42.14 and a two-hundred day moving average price of $42.27. The company has a market cap of $20.82 billion, a PE ratio of 15.12, a P/E/G ratio of 0.81 and a beta of 0.76.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results 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 net margin of 12.76% and a return on equity of 6.84%. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. Research analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.42 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.53%. Citizens Financial Group's dividend payout ratio is currently 53.33%.

Citizens Financial Group announced that its Board of Directors has authorized a share repurchase program on Friday, June 13th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 8.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on CFG shares. Royal Bank Of Canada dropped their price objective on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group cut their price objective on shares of Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Citigroup reissued a "buy" rating and issued a $57.00 price objective (up from $51.00) on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. Argus set a $45.00 target price on Citizens Financial Group in a research report on Thursday, April 24th. Finally, DA Davidson reduced their price target on Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Citizens Financial Group currently has an average rating of "Moderate Buy" and a consensus price target of $49.32.

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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