Envestnet Asset Management Inc. Grows Stock Holdings in Citizens Financial Group, Inc. $CFG

Envestnet Asset Management Inc. increased its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 25.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 687,602 shares of the bank’s stock after purchasing an additional 140,641 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of Citizens Financial Group worth $36,553,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its position in Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after acquiring an additional 274 shares during the last quarter. Empowered Funds LLC increased its position in shares of Citizens Financial Group by 6.7% during the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after purchasing an additional 554 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock worth $1,513,000 after purchasing an additional 10,466 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Citizens Financial Group by 93.4% in the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after buying an additional 4,739 shares during the last quarter. Finally, Blair William & Co. IL grew its position in Citizens Financial Group by 5.6% during the second quarter. Blair William & Co. IL now owns 15,411 shares of the bank’s stock valued at $690,000 after buying an additional 819 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CFG has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on Citizens Financial Group from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. Stephens reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 16th. Truist Financial boosted their price objective on Citizens Financial Group from $63.00 to $71.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Bank of America raised their target price on shares of Citizens Financial Group from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Morgan Stanley lifted their price target on shares of Citizens Financial Group from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.77.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $66.81 on Thursday. The firm has a market cap of $28.69 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 0.55 and a beta of 0.72. The firm has a fifty day moving average price of $61.05 and a 200 day moving average price of $54.64. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $68.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 2.8%. Citizens Financial Group’s payout ratio is presently 47.55%.

Citizens Financial Group Company 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.