Quantitative Investment Management LLC Acquires 21,726 Shares of Citizens Financial Group, Inc. $CFG

Quantitative Investment Management LLC raised its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 373.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,545 shares of the bank’s stock after purchasing an additional 21,726 shares during the quarter. Quantitative Investment Management LLC’s holdings in Citizens Financial Group were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of Citizens Financial Group by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock worth $355,000 after buying an additional 172 shares during the period. Cookson Peirce & Co. Inc. boosted its stake in Citizens Financial Group by 0.3% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after buying an additional 174 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock valued at $1,150,000 after acquiring an additional 175 shares during the period. MGO One Seven LLC grew its position in Citizens Financial Group by 3.7% in the fourth quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock valued at $308,000 after acquiring an additional 187 shares during the period. Finally, Summit Financial LLC raised its stake in Citizens Financial Group by 2.5% during the fourth quarter. Summit Financial LLC now owns 7,719 shares of the bank’s stock worth $451,000 after acquiring an additional 187 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stephens lifted their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods increased their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Evercore reissued an “outperform” rating and set a $80.00 price target on shares of Citizens Financial Group in a report on Monday, July 6th. Jefferies Financial Group boosted their price target on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Cantor Fitzgerald upped their price objective on shares of Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Insider Buying and Selling at Citizens Financial Group

In related 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 completion of the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by corporate insiders.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $68.95 on Tuesday. The stock has a 50-day simple moving average of $71.48 and a 200 day simple moving average of $65.68. The stock has a market capitalization of $29.04 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 0.53 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. Citizens Financial Group, Inc. has a 12-month low of $47.96 and a 12-month high of $75.33.

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

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is 39.91%.

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.