Jupiter Topco LLC Takes Position in Citizens Financial Group, Inc. $CFG

Jupiter Topco LLC purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, Holdings Channel reports. The firm purchased 51,513 shares of the bank’s stock, valued at approximately $3,610,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. bought a new stake in Citizens Financial Group during the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Citizens Financial Group in the 1st quarter valued at approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at approximately $29,000. Elevation Wealth Partners LLC lifted its holdings in shares of Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after acquiring an additional 323 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $68.10 on Wednesday. The stock has a 50-day moving average price of $71.46 and a two-hundred day moving average price of $65.69. The company has a market capitalization of $28.68 billion, a PE ratio of 14.77, a P/E/G ratio of 0.62 and a beta of 0.67. Citizens Financial Group, Inc. has a 12 month low of $47.96 and a 12 month high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

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

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s payout ratio is presently 39.91%.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the 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 transaction, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This 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 accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Cantor Fitzgerald upped their target price on Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. UBS Group boosted their price target on Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Argus set a $80.00 price objective on Citizens Financial Group in a research report on Wednesday, July 29th. Stephens raised their price objective on 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. Finally, Evercore reiterated an “outperform” rating and issued a $80.00 target price on shares of Citizens Financial Group in a research report on Monday, July 6th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Citizens Financial Group 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.