Private Management Group Inc. Makes New $1.82 Million Investment in Citizens Financial Group, Inc. $CFG

Private Management Group Inc. purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to its most recent filing with the SEC. The firm purchased 40,565 shares of the bank’s stock, valued at approximately $1,815,000.

A number of other institutional investors and hedge funds have also modified their holdings of CFG. Vanguard Group Inc. raised its holdings in Citizens Financial Group by 0.4% during the second quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock worth $2,306,817,000 after purchasing an additional 209,467 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of 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 valued at $425,293,000 after buying an additional 697,494 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Citizens Financial Group by 19.1% during the 1st quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock worth $294,007,000 after buying an additional 1,180,390 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Citizens Financial Group by 8.9% in the 1st quarter. Royal Bank of Canada now owns 6,801,856 shares of the bank’s stock worth $278,672,000 after buying an additional 554,618 shares in the last quarter. Finally, LSV Asset Management grew its stake in Citizens Financial Group by 14.5% in 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 last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CFG. JPMorgan Chase & Co. upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $48.50 to $52.00 in a research report on Friday, August 1st. DA Davidson reissued a “buy” rating and set a $59.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 16th. Truist Financial reduced their target price on Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Citigroup increased their target price on Citizens Financial Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Stephens reissued an “overweight” rating and issued a $60.00 price target on shares of Citizens Financial Group in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.57.

Citizens Financial Group Trading Up 3.2%

Shares of CFG opened at $52.31 on Friday. The stock has a fifty day moving average of $51.72 and a two-hundred day moving average of $47.85. Citizens Financial Group, Inc. has a fifty-two week low of $32.60 and a fifty-two week high of $55.24. The company has a market capitalization of $22.47 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.56 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data 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. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 EPS. As a group, analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current 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 given a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 51.54%.

Citizens Financial Group Company 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.