Citizens Financial Group, Inc. $CFG Shares Bought by AIA Group Ltd

AIA Group Ltd grew its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 58.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,910 shares of the bank’s stock after purchasing an additional 16,633 shares during the period. AIA Group Ltd’s holdings in Citizens Financial Group were worth $2,387,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. True Wealth Design LLC boosted its holdings in shares of Citizens Financial Group by 891.5% in the third quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock valued at $31,000 after acquiring an additional 526 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in Citizens Financial Group by 3,970.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 814 shares of the bank’s stock valued at $36,000 after purchasing an additional 794 shares in the last quarter. State of Wyoming acquired a new position in Citizens Financial Group during the 2nd quarter worth approximately $39,000. Kestra Investment Management LLC raised its stake in shares of Citizens Financial Group by 2,703.0% during the 2nd quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock worth $41,000 after buying an additional 892 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Activity at Citizens Financial Group

In other news, insider Susan Lamonica sold 13,258 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider directly owned 165,971 shares in the company, valued at $9,632,956.84. This represents a 7.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CFG. Royal Bank Of Canada lifted their price target on Citizens Financial Group from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 target price on shares of Citizens Financial Group in a report on Tuesday, March 3rd. Robert W. Baird upgraded shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Monday, March 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Citizens Financial Group in a research note on Wednesday, January 21st. Finally, Raymond James Financial downgraded shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $62.00 to $66.00 in a report on Wednesday, January 7th. Twenty research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus price target of $69.95.

Citizens Financial Group Trading Up 0.7%

Shares of Citizens Financial Group stock opened at $57.00 on Friday. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $68.79. The business’s fifty day moving average is $62.04 and its two-hundred day moving average is $56.74. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. The firm has a market cap of $24.23 billion, a PE ratio of 14.73, a P/E/G ratio of 0.46 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.84 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group’s payout ratio is currently 47.55%.

About Citizens Financial Group

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.