MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 49,718 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 393.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,343 shares of the bank's stock after buying an additional 49,718 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Citizens Financial Group were worth $2,554,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC raised its stake in shares of Citizens Financial Group by 3.2% in the first quarter. Sound Income Strategies LLC now owns 222,399 shares of the bank's stock valued at $9,112,000 after buying an additional 6,882 shares during the period. Hennessy Advisors Inc. raised its stake in shares of Citizens Financial Group by 50.0% during the 1st quarter. Hennessy Advisors Inc. now owns 15,000 shares of the bank's stock valued at $615,000 after purchasing an additional 5,000 shares during the period. New England Research & Management Inc. raised its stake in shares of Citizens Financial Group by 9.0% during the 1st quarter. New England Research & Management Inc. now owns 14,837 shares of the bank's stock valued at $608,000 after purchasing an additional 1,225 shares during the period. CVA Family Office LLC raised its stake in shares of Citizens Financial Group by 26.4% during the 1st quarter. CVA Family Office LLC now owns 1,612 shares of the bank's stock valued at $66,000 after purchasing an additional 337 shares during the period. Finally, Everhart Financial Group Inc. raised its stake in shares of Citizens Financial Group by 25.9% during the 1st quarter. Everhart Financial Group Inc. now owns 12,855 shares of the bank's stock valued at $527,000 after purchasing an additional 2,641 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $40.27 on Monday. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.81 and a beta of 0.75. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $49.25. The stock's 50-day moving average is $38.77 and its 200 day moving average is $42.36.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group declared that its board has initiated a stock 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 generally an indication that the company's board of directors believes its shares are undervalued.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.17%. Citizens Financial Group's payout ratio is 53.33%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays decreased their price objective on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Citigroup decreased their price objective on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods decreased their price objective on Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Cowen began coverage on Citizens Financial Group in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of "Moderate Buy" and an average target price of $47.89.

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.

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