Citizens Financial Group, Inc. $CFG Shares Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 7.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,035 shares of the bank’s stock after acquiring an additional 9,655 shares during the quarter. Flputnam Investment Management Co.’s holdings in Citizens Financial Group were worth $9,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CFG. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth approximately $26,000. Cedar Mountain Advisors LLC purchased a new position in Citizens Financial Group in the 1st quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Citizens Financial Group in the 4th quarter valued at $29,000. Activest Wealth Management boosted its stake in Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after purchasing an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in Citizens Financial Group by 319.8% during the 2nd 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. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.6%

Shares of NYSE CFG opened at $69.76 on Friday. The company has a market capitalization of $29.38 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.53 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The company has a 50 day simple moving average of $71.46 and a 200-day simple moving average of $65.69. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data 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. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. On average, equities research analysts predict that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) 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 that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. The trade was a 10.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group increased their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Citigroup upped their price objective on shares of Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Stephens increased their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Finally, Robert W. Baird raised their target price on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Citizens Financial Group Company 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.