Osaic Holdings Inc. Raises Position in Citizens Financial Group, Inc. $CFG

Osaic Holdings Inc. lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 515.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,090 shares of the bank’s stock after acquiring an additional 183,512 shares during the quarter. Osaic Holdings Inc. owned approximately 0.05% of Citizens Financial Group worth $9,124,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CFG. FSC Wealth Advisors LLC lifted its position in shares of Citizens Financial Group by 56.2% in the second quarter. FSC Wealth Advisors LLC now owns 3,849 shares of the bank’s stock worth $172,000 after buying an additional 1,385 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Citizens Financial Group by 10.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 53,194 shares of the bank’s stock worth $2,380,000 after purchasing an additional 5,176 shares during the period. Advisory Services Network LLC increased its holdings in Citizens Financial Group by 29.6% during the second quarter. Advisory Services Network LLC now owns 9,710 shares of the bank’s stock valued at $463,000 after buying an additional 2,219 shares during the period. State of Wyoming bought a new position in Citizens Financial Group in the second quarter worth approximately $39,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Citizens Financial Group by 3.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 7,762 shares of the bank’s stock worth $347,000 after acquiring an additional 287 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 1.3%

NYSE:CFG opened at $59.19 on Friday. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $59.33. The stock has a fifty day moving average price of $53.15 and a 200 day moving average price of $50.07. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm has a market cap of $25.42 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.74.

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

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th were issued a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 3.1%. Citizens Financial Group’s payout ratio is presently 51.54%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cowen reaffirmed a “buy” rating on shares of Citizens Financial Group in a research report on Monday, December 1st. Baird R W cut shares of Citizens Financial Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. DA Davidson reissued a “buy” rating and issued a $59.00 price target on shares of Citizens Financial Group in a report on Thursday, October 16th. Bank of America raised shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $65.00 in a report on Thursday, October 9th. Finally, UBS Group upped their target price on Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $57.24.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.