Envestnet Portfolio Solutions Inc. Increases Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 16.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,957 shares of the bank’s stock after acquiring an additional 2,415 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Citizens Financial Group were worth $742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Ameliora Wealth Management Ltd. bought a new position in shares of Citizens Financial Group in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Citizens Financial Group in the 4th quarter worth about $28,000. Sierra Ocean LLC bought a new stake in shares of Citizens Financial Group during the fourth quarter valued at about $47,000. Legacy Investment Solutions LLC purchased a new stake in shares of Citizens Financial Group in the third quarter worth about $48,000. Finally, Duncker Streett & Co. Inc. bought a new position in shares of Citizens Financial Group in the fourth quarter valued at approximately $51,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Compass Point upped their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays boosted their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Stephens reiterated an “overweight” rating and set a $53.00 target price on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Raymond James reissued a “strong-buy” rating and issued a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Finally, Piper Sandler raised their price objective on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.67.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $42.30 on Tuesday. The company has a market capitalization of $18.49 billion, a P/E ratio of 13.96, a PEG ratio of 0.81 and a beta of 1.06. Citizens Financial Group, Inc. has a fifty-two week low of $32.06 and a fifty-two week high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $45.08 and a two-hundred day moving average price of $44.13.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. Analysts expect that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.97%. Citizens Financial Group’s dividend payout ratio is presently 55.45%.

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.