Sound Income Strategies LLC Trims Stock Holdings in Citizens Financial Group, Inc. $CFG

Sound Income Strategies LLC reduced its position in Citizens Financial Group, Inc. (NYSE:CFG) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,159 shares of the bank’s stock after selling 9,107 shares during the quarter. Sound Income Strategies LLC owned about 0.07% of Citizens Financial Group worth $17,938,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CFG. Parallel Advisors LLC raised its position in Citizens Financial Group by 2.9% in the 4th quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock valued at $355,000 after purchasing an additional 172 shares during the last quarter. AA Financial Advisors LLC grew its position in Citizens Financial Group by 3.9% during the 4th quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock worth $272,000 after purchasing an additional 174 shares during the last quarter. Inscription Capital LLC grew its position in Citizens Financial Group by 1.6% during the 4th quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after purchasing an additional 175 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock valued at $1,150,000 after purchasing an additional 175 shares during the period. Finally, Grove Bank & Trust increased its stake in Citizens Financial Group by 19.8% in the fourth quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock valued at $65,000 after purchasing an additional 183 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Down 1.2%

Shares of Citizens Financial Group stock opened at $70.97 on Friday. Citizens Financial Group, Inc. has a one year low of $45.90 and a one year high of $72.46. The company has a market cap of $30.01 billion, a P/E ratio of 16.78, a PEG ratio of 0.57 and a beta of 0.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a fifty day moving average of $65.00 and a two-hundred day moving average of $62.70.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts forecast that Citizens Financial Group, Inc. will post 5.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, April 30th. Citizens Financial Group’s payout ratio is currently 43.50%.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CFG. Robert W. Baird raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Monday, March 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Citizens Financial Group in a report on Tuesday, June 9th. DA Davidson boosted their price target on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Stephens began coverage on Citizens Financial Group in a research note on Monday, June 15th. They set an “equal weight” rating for the company. Finally, Evercore reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, April 21st. Eighteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.38.

Citizens Financial Group Company Profile

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.