Physician Wealth Advisors Inc. Acquires 11,074 Shares of Citizens Financial Group, Inc. $CFG

Physician Wealth Advisors Inc. raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 4,857.0% during the third quarter, HoldingsChannel reports. The firm owned 11,302 shares of the bank’s stock after buying an additional 11,074 shares during the period. Physician Wealth Advisors Inc.’s holdings in Citizens Financial Group were worth $721,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Carnegie Investment Counsel acquired a new position in Citizens Financial Group in the 3rd quarter valued at about $8,425,000. Pinnacle Associates Ltd. raised its stake in Citizens Financial Group by 1,399.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 376,226 shares of the bank’s stock valued at $23,988,000 after acquiring an additional 351,143 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Citizens Financial Group by 649.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,063,823 shares of the bank’s stock valued at $67,829,000 after acquiring an additional 921,782 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Citizens Financial Group by 7,979.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock valued at $775,663,000 after acquiring an additional 12,014,785 shares during the last quarter. Finally, 55 North Private Wealth LLC lifted its position in Citizens Financial Group by 4.6% during the 3rd quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock worth $244,000 after acquiring an additional 170 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the firm’s 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 sale, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CFG shares. Royal Bank Of Canada dropped their target price on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday. TD Cowen initiated coverage on Citizens Financial Group in a report on Thursday, October 8th. They set a “buy” rating and a $75.00 price target for the company. Evercore reaffirmed an “outperform” rating and set a $78.00 price target on shares of Citizens Financial Group in a report on Thursday, October 1st. Stephens lowered their price objective on shares of Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.47.

Citizens Financial Group Stock Performance

CFG opened at $64.25 on Wednesday. The stock has a market cap of $27.06 billion, a P/E ratio of 12.93, a P/E/G ratio of 0.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $67.66 and its 200 day simple moving average is $67.16. 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) last released its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 41.85%.

Citizens Financial Group 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.