9,620 Shares in Citizens Financial Group, Inc. $CFG Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,620 shares of the bank’s stock, valued at approximately $674,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $355,909,000. AQR Capital Management LLC increased its holdings in Citizens Financial Group by 56.9% in the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock worth $451,075,000 after acquiring an additional 2,799,050 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Citizens Financial Group during the second quarter worth $175,948,000. Victory Capital Management Inc. raised its position in Citizens Financial Group by 89.4% during the fourth quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank’s stock worth $276,372,000 after acquiring an additional 2,232,806 shares during the period. Finally, Amundi lifted its holdings in Citizens Financial Group by 136.4% during the fourth quarter. Amundi now owns 3,513,388 shares of the bank’s stock valued at $205,217,000 after purchasing an additional 2,027,255 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $74.39 on Tuesday. The company’s 50-day moving average is $70.77 and its two-hundred day moving average is $65.36. Citizens Financial Group, Inc. has a 1-year low of $47.96 and a 1-year high of $75.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $31.33 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.57 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. Analysts forecast that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is 39.91%.

Analyst Ratings Changes

Several analysts have recently issued reports on CFG shares. Truist Financial lifted their target price on shares of Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Stephens raised their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Jefferies Financial Group lifted their price objective on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. DA Davidson reiterated a “neutral” rating on shares of Citizens Financial Group in a research note on Friday. Finally, UBS Group increased their target price on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average price target of $79.05.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the sale, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.

About Citizens Financial Group

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.