Integrated Wealth Concepts LLC Makes New Investment in Citizens Financial Group, Inc. (NYSE:CFG)

Integrated Wealth Concepts LLC purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,975 shares of the bank’s stock, valued at approximately $204,000.

Several other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Citizens Financial Group by 4.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 77,067 shares of the bank’s stock valued at $2,777,000 after buying an additional 3,295 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Citizens Financial Group by 62.1% in the 2nd quarter. Blue Trust Inc. now owns 5,011 shares of the bank’s stock worth $182,000 after purchasing an additional 1,920 shares during the last quarter. Gradient Investments LLC raised its holdings in shares of Citizens Financial Group by 352.8% in the 2nd quarter. Gradient Investments LLC now owns 2,581 shares of the bank’s stock worth $93,000 after purchasing an additional 2,011 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Citizens Financial Group by 4.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,954 shares of the bank’s stock valued at $431,000 after purchasing an additional 494 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Citizens Financial Group by 27.8% during the second quarter. Nisa Investment Advisors LLC now owns 91,862 shares of the bank’s stock valued at $3,310,000 after purchasing an additional 20,000 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CFG has been the topic of several research reports. The Goldman Sachs Group upped their price target on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. DA Davidson boosted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $46.00 to $53.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Citigroup boosted their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Barclays upped their price objective on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $46.94.

Citizens Financial Group Stock Up 0.3 %

CFG stock opened at $45.69 on Friday. The company has a 50 day moving average of $44.71 and a two-hundred day moving average of $40.92. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. Citizens Financial Group, Inc. has a 12-month low of $30.24 and a 12-month high of $49.25. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.76 and a beta of 1.08.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.85 earnings per share. Citizens Financial Group’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.68%. Citizens Financial Group’s payout ratio is 66.14%.

Citizens Financial Group Profile

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.