Choreo LLC Increases Stock Holdings in Citizens Financial Group, Inc. $CFG

Choreo LLC grew its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 13.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,713 shares of the bank’s stock after purchasing an additional 1,604 shares during the quarter. Choreo LLC’s holdings in Citizens Financial Group were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CFG. Vanguard Group Inc. boosted its holdings in shares of Citizens Financial Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock worth $2,306,817,000 after buying an additional 209,467 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Citizens Financial Group by 7.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 10,380,605 shares of the bank’s stock worth $425,293,000 after acquiring an additional 697,494 shares during the period. AQR Capital Management LLC raised its position in Citizens Financial Group by 19.1% in the first quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock worth $294,007,000 after acquiring an additional 1,180,390 shares during the period. Royal Bank of Canada boosted its stake in shares of Citizens Financial Group by 8.9% during the 1st quarter. Royal Bank of Canada now owns 6,801,856 shares of the bank’s stock worth $278,672,000 after acquiring an additional 554,618 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of Citizens Financial Group by 14.5% during the 2nd quarter. LSV Asset Management now owns 6,562,791 shares of the bank’s stock valued at $293,685,000 after acquiring an additional 833,399 shares during the period. Institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the topic of a number of recent research reports. Citigroup raised their target price on Citizens Financial Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Bank of America upgraded Citizens Financial Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $65.00 in a research report on Thursday, October 9th. Morgan Stanley raised Citizens Financial Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $53.00 to $71.00 in a research note on Monday, September 29th. Cantor Fitzgerald began coverage on Citizens Financial Group in a research note on Wednesday, September 10th. They set an “overweight” rating and a $61.00 price objective for the company. Finally, UBS Group increased their target price on shares of Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Buy” and a consensus price target of $56.57.

Citizens Financial Group Stock Performance

NYSE CFG opened at $54.56 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $55.24. The business has a 50-day moving average price of $51.90 and a 200-day moving average price of $48.47. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 0.58 and a beta of 0.73.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the company earned $0.79 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The business 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. This represents a $1.84 annualized dividend and a dividend yield of 3.4%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, October 29th. Citizens Financial Group’s payout ratio is presently 51.54%.

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.