Mystic Asset Management Inc. Takes $638,000 Position in Citizens Financial Group, Inc. $CFG

Mystic Asset Management Inc. acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 9,109 shares of the bank’s stock, valued at approximately $638,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in Citizens Financial Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock worth $661,052,000 after acquiring an additional 32,264 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Citizens Financial Group by 45.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock valued at $15,799,000 after acquiring an additional 85,052 shares in the last quarter. Todd Asset Management LLC boosted its position in shares of Citizens Financial Group by 10.6% during the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock valued at $57,914,000 after acquiring an additional 94,774 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Citizens Financial Group by 51.8% during the 4th quarter. HighTower Advisors LLC now owns 58,648 shares of the bank’s stock valued at $3,426,000 after acquiring an additional 20,008 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Citizens Financial Group by 20.7% during the fourth quarter. Systematic Financial Management LP now owns 100,617 shares of the bank’s stock worth $5,877,000 after purchasing an additional 17,225 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the sale, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Trading Down 1.4%

Shares of CFG opened at $69.77 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $29.39 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.54 and a beta of 0.67. The firm has a 50 day moving average price of $71.10 and a 200-day moving average price of $65.53. Citizens Financial Group, Inc. has a fifty-two week low of $47.96 and a fifty-two week high of $75.33.

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

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were paid 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, July 30th. Citizens Financial Group’s payout ratio is 39.91%.

Analyst Ratings Changes

Several research analysts recently weighed in on CFG shares. Morgan Stanley upped their price objective on shares of Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Stephens lifted their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Robert W. Baird increased their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Finally, Barclays raised their price objective on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus target price of $79.25.

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.