Retirement Planning Co of New England Inc. Buys Shares of 7,646 Citizens Financial Group, Inc. (NYSE:CFG)

Retirement Planning Co of New England Inc. purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,646 shares of the bank's stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Citizens Financial Group during the 4th quarter valued at $243,431,000. Wellington Management Group LLP lifted its position in Citizens Financial Group by 27.8% during the fourth 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 in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Citizens Financial Group by 20.9% during the fourth 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 period. AQR Capital Management LLC increased its position in Citizens Financial Group by 32.2% in the fourth quarter. AQR Capital Management LLC now owns 6,186,364 shares of the bank's stock worth $270,715,000 after buying an additional 1,507,536 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Citizens Financial Group in the fourth quarter worth about $51,486,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE CFG opened at $48.82 on Friday. The company has a market cap of $21.34 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.80 and a beta of 0.76. The business's 50 day moving average price is $42.86 and its 200-day moving average price is $42.40. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $49.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its 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 12.76% and a return on equity of 6.84%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The business's revenue for the quarter 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 of Directors has approved a stock buyback plan on Friday, June 13th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 8.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CFG. Stephens cut their price objective on Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. UBS Group raised their price objective on shares of Citizens Financial Group from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Royal Bank Of Canada cut their price target on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Cowen started coverage on Citizens Financial Group in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. cut their target price on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Citizens Financial Group has an average rating of "Moderate Buy" and a consensus target price of $49.79.

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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