Red Cedar Investment Management LLC Purchases 15,700 Shares of Citizens Financial Group, Inc. $CFG

Red Cedar Investment Management LLC grew its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 17.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 105,183 shares of the bank’s stock after buying an additional 15,700 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Citizens Financial Group were worth $6,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CFG. NewEdge Advisors LLC grew its stake in shares of Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after acquiring an additional 274 shares in the last quarter. Empowered Funds LLC raised its stake in Citizens Financial Group by 6.7% in the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock worth $362,000 after purchasing an additional 554 shares in the last quarter. Woodline Partners LP raised its stake in Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock worth $1,513,000 after purchasing an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Citizens Financial Group by 93.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock valued at $439,000 after purchasing an additional 4,739 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Citizens Financial Group by 5.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank’s stock worth $2,934,000 after purchasing an additional 3,225 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider directly owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

CFG has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Citizens Financial Group from $68.00 to $68.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings raised Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Morgan Stanley lowered their price objective on Citizens Financial Group from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Citigroup reaffirmed a “buy” rating on shares of Citizens Financial Group in a report on Friday, May 8th. Finally, DA Davidson increased their target price on Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Nineteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average target price of $70.88.

Citizens Financial Group Stock Up 2.0%

Shares of CFG opened at $65.61 on Wednesday. Citizens Financial Group, Inc. has a one year low of $40.17 and a one year high of $68.79. The company has a market cap of $27.75 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.51 and a beta of 0.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $63.12 and a two-hundred day simple moving average of $61.08.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Research analysts forecast that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 43.50%.

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.