Nykredit A S Invests $188.38 Million in Citizens Financial Group, Inc. $CFG

Nykredit A S purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,688,457 shares of the bank’s stock, valued at approximately $188,380,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevation Wealth Partners LLC boosted its stake in 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 in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Citizens Financial Group in the first quarter valued at $27,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Citizens Financial Group during the second quarter worth approximately $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Citizens Financial Group during the 4th quarter worth $29,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group 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 directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This trade represents a 10.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Trading Up 2.3%

CFG stock opened at $69.74 on Thursday. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33. The stock has a market cap of $29.37 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.62 and a beta of 0.66. The company has a fifty day moving average price of $71.46 and a two-hundred day moving average price of $65.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

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

Citizens Financial Group Announces Dividend

The company also recently announced 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. 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 39.91%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Jefferies Financial Group raised their target price on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Citigroup boosted their price target on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 20th. DA Davidson reissued a “neutral” rating on shares of Citizens Financial Group in a research report on Friday, August 14th. Finally, Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.