Quadrant Capital Group LLC boosted its holdings in Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 902.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 184,740 shares of the bank’s stock after acquiring an additional 166,306 shares during the period. Quadrant Capital Group LLC’s holdings in Citizens Financial Group were worth $11,779,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the business. Newman Dignan & Sheerar Inc. raised its position in Citizens Financial Group by 89.4% during the third quarter. Newman Dignan & Sheerar Inc. now owns 34,726 shares of the bank’s stock worth $2,214,000 after acquiring an additional 16,392 shares during the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of Citizens Financial Group by 4,857.0% in the third quarter. Physician Wealth Advisors Inc. now owns 11,302 shares of the bank’s stock valued at $721,000 after purchasing an additional 11,074 shares in the last quarter. Carnegie Investment Counsel purchased a new stake in shares of Citizens Financial Group in the third quarter valued at about $8,425,000. Pinnacle Associates Ltd. lifted its holdings in shares of Citizens Financial Group by 1,399.9% in the third quarter. Pinnacle Associates Ltd. now owns 376,226 shares of the bank’s stock valued at $23,988,000 after purchasing an additional 351,143 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Citizens Financial Group by 649.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,063,823 shares of the bank’s stock valued at $67,829,000 after purchasing an additional 921,782 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Citizens Financial Group
In other news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction on Friday, July 24th. The stock was 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 owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CFG. Argus set a $80.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, July 29th. JPMorgan Chase & Co. cut their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research report on Friday, October 2nd. TD Cowen initiated coverage on Citizens Financial Group in a research report on Thursday, October 8th. They set a “buy” rating and a $75.00 price objective for the company. Jefferies Financial Group upped their target price on Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Truist Financial lowered their target price on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.47.
View Our Latest Analysis on CFG
Citizens Financial Group Price Performance
CFG stock opened at $64.25 on Wednesday. The stock has a 50-day simple moving average of $67.66 and a 200-day simple moving average of $67.16. The firm has a market cap of $27.06 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86. Citizens Financial Group, Inc. has a 1 year low of $49.00 and a 1 year high of $75.33.
Citizens Financial Group (NYSE:CFG – Get Free Report) last issued its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same quarter last year, the company earned $1.05 earnings per share. On average, equities analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.
Citizens Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio (DPR) is presently 41.85%.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.
The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.
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