Principal Financial Group Inc. Increases Stock Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Principal Financial Group Inc. lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 634,993 shares of the bank’s stock after buying an additional 31,123 shares during the quarter. Principal Financial Group Inc. owned 0.15% of Citizens Financial Group worth $29,127,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CFG. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Citizens Financial Group by 2.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 567,631 shares of the bank’s stock valued at $18,448,000 after buying an additional 15,663 shares during the period. Arizona State Retirement System grew its stake in Citizens Financial Group by 0.6% during the 1st quarter. Arizona State Retirement System now owns 123,136 shares of the bank’s stock valued at $5,436,000 after purchasing an additional 742 shares in the last quarter. IndexIQ Advisors LLC grew its stake in Citizens Financial Group by 14.5% during the 1st quarter. IndexIQ Advisors LLC now owns 6,815 shares of the bank’s stock valued at $301,000 after purchasing an additional 861 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in Citizens Financial Group during the 1st quarter valued at approximately $256,000. Finally, Cibc World Markets Corp grew its stake in Citizens Financial Group by 2.0% during the 1st quarter. Cibc World Markets Corp now owns 175,021 shares of the bank’s stock valued at $7,727,000 after purchasing an additional 3,388 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Shares of Citizens Financial Group stock opened at $41.80 on Wednesday. Citizens Financial Group, Inc. has a 1-year low of $23.46 and a 1-year high of $51.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.89. The business’s fifty day moving average price is $43.39 and its two-hundred day moving average price is $45.37. The company has a market capitalization of $17.81 billion, a P/E ratio of 9.33, a PEG ratio of 0.29 and a beta of 1.77.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Monday, July 19th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.33. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Citizens Financial Group had a return on equity of 10.11% and a net margin of 28.12%. During the same period in the previous year, the firm posted $0.53 EPS. On average, research analysts expect that Citizens Financial Group, Inc. will post 5.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, July 29th. Citizens Financial Group’s payout ratio is 64.73%.

A number of equities research analysts have weighed in on the company. Citigroup assumed coverage on Citizens Financial Group in a research note on Friday, July 16th. They set a “hold” rating and a $43.65 price objective for the company. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “strong-buy” rating and set a $48.00 target price for the company in a research report on Wednesday, July 14th. Morgan Stanley lifted their target price on Citizens Financial Group from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 26th. Keefe, Bruyette & Woods upgraded Citizens Financial Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 7th. Finally, Barclays lifted their target price on Citizens Financial Group from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, July 8th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Buy” and an average target price of $47.73.

About Citizens Financial Group

Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the following segments: Consumer Banking and Commercial Banking. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.

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Institutional Ownership by Quarter for Citizens Financial Group (NYSE:CFG)

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