48,054 Shares in Citizens Financial Group, Inc. $CFG Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,054 shares of the bank’s stock, valued at approximately $3,367,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CFG. Elevation Wealth Partners LLC boosted its position in Citizens Financial Group by 319.8% during 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 in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth about $26,000. Cedar Mountain Advisors LLC acquired a new stake in Citizens Financial Group during the first quarter worth approximately $27,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Citizens Financial Group during the 4th quarter worth $29,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Stephens raised their price target on Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, Barclays upped their price objective on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.25.

Citizens Financial Group Trading Down 0.5%

CFG stock opened at $69.86 on Wednesday. The company has a market cap of $29.43 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.54 and a beta of 0.67. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $71.27 and a 200-day simple moving average of $65.62. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s payout ratio is currently 39.91%.

Insider Activity

In other news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction dated 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. The trade was a 10.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.67% of the company’s stock.

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.