Citizens Financial Group, Inc. $CFG Shares Bought by Private Management Group Inc.

Private Management Group Inc. raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 200.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 122,059 shares of the bank’s stock after acquiring an additional 81,494 shares during the period. Private Management Group Inc.’s holdings in Citizens Financial Group were worth $7,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CFG. Carolina Wealth Advisors LLC purchased a new stake in shares of Citizens Financial Group in the 3rd quarter valued at about $29,000. Elevation Wealth Partners LLC increased its position in shares of Citizens Financial Group by 319.8% in the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after purchasing an additional 323 shares during the last quarter. Virtus Advisers LLC bought a new position in shares of Citizens Financial Group in the second quarter worth approximately $35,000. Keating Financial Advisory Services Inc. bought a new position in shares of Citizens Financial Group in the second quarter worth approximately $35,000. Finally, Align Financial LLC bought a new position in shares of Citizens Financial Group in the third quarter worth approximately $35,000. 94.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Robert W. Baird increased their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Bank of America lowered their price objective on shares of Citizens Financial Group from $82.00 to $76.00 in a research report on Thursday, October 8th. Truist Financial lowered their price objective on shares of Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, October 20th. Finally, UBS Group dropped their price objective on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a report on Monday, October 5th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.79.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $64.91 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $27.21 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. The business’s 50-day moving average price is $65.70 and its 200-day moving average price is $65.65. Citizens Financial Group, Inc. has a 12 month low of $49.00 and a 12 month high of $75.33.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm posted $1.05 EPS. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, October 30th. Citizens Financial Group’s payout ratio is 41.85%.

Citizens Financial Group Profile

Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.