Parallax Volatility Advisers L.P. Makes New $2.36 Million Investment in Citizens Financial Group, Inc. $CFG

Parallax Volatility Advisers L.P. purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, Holdings Channel reports. The fund purchased 33,659 shares of the bank’s stock, valued at approximately $2,358,000.

Other hedge funds have also recently bought and sold shares of the company. Elevation Wealth Partners LLC lifted its position in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after buying an additional 323 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Citizens Financial Group in the fourth quarter worth $26,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Citizens Financial Group during the first quarter worth $27,000. Keating Financial Advisory Services Inc. purchased a new position in Citizens Financial Group in the second quarter valued at about $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Citizens Financial Group in the 4th quarter worth about $29,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Price Performance

NYSE CFG opened at $70.48 on Thursday. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33. The company has a fifty day simple moving average of $71.34 and a 200 day simple moving average of $65.65. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a market cap of $29.68 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.53 and a beta of 0.67.

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

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were given a dividend of $0.46 per share. 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 Buying and Selling at Citizens Financial Group

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CFG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Stephens lifted their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Citigroup increased their price target on shares of Citizens Financial Group from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Evercore restated an “outperform” rating and set a $80.00 price target on shares of Citizens Financial Group in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

About Citizens Financial Group

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.