NewEdge Advisors LLC grew its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 43.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,994 shares of the bank’s stock after purchasing an additional 48,906 shares during the period. NewEdge Advisors LLC’s holdings in Citizens Financial Group were worth $11,281,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in Citizens Financial Group by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock worth $355,000 after acquiring an additional 172 shares during the period. Cookson Peirce & Co. Inc. raised its stake in Citizens Financial Group by 0.3% in the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after purchasing an additional 174 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock valued at $1,150,000 after purchasing an additional 175 shares in the last quarter. MGO One Seven LLC lifted its position in Citizens Financial Group by 3.7% during the fourth quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock worth $308,000 after purchasing an additional 187 shares during the period. Finally, Summit Financial LLC grew its stake in Citizens Financial Group by 2.5% during the fourth quarter. Summit Financial LLC now owns 7,719 shares of the bank’s stock worth $451,000 after buying an additional 187 shares in the last quarter. 94.90% of the stock is owned by institutional investors.
Insider Buying and Selling at Citizens Financial Group
In related news, CEO Bruce Van Saun sold 129,369 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at $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 available through the SEC website. 0.67% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Get Our Latest Analysis on Citizens Financial Group
Citizens Financial Group Stock Up 1.2%
Shares of NYSE CFG opened at $70.47 on Friday. The company has a 50 day simple moving average of $71.41 and a 200 day simple moving average of $65.99. The firm has a market cap of $29.68 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.63 and a beta of 0.66. 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.
Citizens Financial Group (NYSE:CFG – Get Free Report) last posted its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research 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 issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group’s payout ratio is 39.91%.
Citizens Financial Group Profile
Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through its primary subsidiary, Citizens Bank, the company provides retail and commercial banking services to individuals, businesses, institutions and government entities.
Its offerings include checking and savings accounts, consumer and residential lending, credit cards, business loans, commercial real estate financing, treasury management, investment banking, capital markets services and wealth management.
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