Citizens Financial Group Inc. RI Invests $22.07 Million in Citizens Financial Group, Inc. $CFG

Citizens Financial Group Inc. RI purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 314,979 shares of the bank’s stock, valued at approximately $22,071,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CFG. Geode Capital Management LLC raised its position in shares of Citizens Financial Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after buying an additional 32,264 shares during the period. Jupiter Asset Management Ltd. lifted its stake 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 purchasing an additional 85,052 shares during the last quarter. Todd Asset Management LLC increased 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 worth $57,914,000 after purchasing an additional 94,774 shares during the last quarter. HighTower Advisors LLC increased 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 worth $3,426,000 after purchasing an additional 20,008 shares during the last quarter. Finally, Systematic Financial Management LP raised its holdings in Citizens Financial Group by 20.7% in the 4th quarter. Systematic Financial Management LP now owns 100,617 shares of the bank’s stock valued at $5,877,000 after buying an additional 17,225 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Evercore reissued an “outperform” rating and issued a $80.00 price target on shares of Citizens Financial Group in a research note on Monday, July 6th. Jefferies Financial Group upped their price objective on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Stephens increased their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Sixteen research 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, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $79.05.

Insider Activity at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, 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 is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Price Performance

CFG opened at $74.39 on Tuesday. The stock’s 50-day moving average price is $70.77 and its 200 day moving average price is $65.36. 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. The firm has a market cap 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 earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The company had revenue of $2.28 billion during 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%.Citizens Financial Group’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

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

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.