Citizens Financial Group, Inc. $CFG Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 18.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,388 shares of the bank’s stock after acquiring an additional 8,946 shares during the period. Sequoia Financial Advisors LLC’s holdings in Citizens Financial Group were worth $4,091,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CFG. BlackRock Inc. purchased a new position in Citizens Financial Group during the second quarter worth approximately $3,415,046,000. California State Teachers Retirement System boosted its holdings in shares of Citizens Financial Group by 7,016.6% in the 2nd quarter. California State Teachers Retirement System now owns 39,561,872 shares of the bank’s stock valued at $2,772,100,000 after purchasing an additional 39,005,965 shares during the last quarter. Norges Bank purchased a new stake in shares of Citizens Financial Group during the 4th quarter valued at $355,909,000. Bank of America Corp DE purchased a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $223,386,000. Finally, Legal & General Group Plc acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth $207,234,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CFG shares. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Barclays boosted their price target on Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Evercore restated an “outperform” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a report on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Citizens Financial Group in a research note on Friday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.80.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the 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 sale, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by company insiders.

Citizens Financial Group Trading Up 1.2%

Shares of CFG opened at $70.47 on Friday. Citizens Financial Group, Inc. has a 12 month low of $47.96 and a 12 month high of $75.33. The stock’s 50-day moving average is $71.41 and its two-hundred day moving average is $65.99. 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 stock has a market cap of $29.68 billion, a PE ratio of 15.29, a P/E/G ratio of 0.64 and a beta of 0.66.

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, beating analysts’ consensus estimates of $1.25 by $0.05. The business 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 company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. Equities analysts forecast that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal 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 issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is currently 39.91%.

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through its primary subsidiary, Citizens Bank, the company provides retail and commercial banking services to individuals, businesses, institutions and government entities.

Its offerings include checking and savings accounts, consumer and residential lending, credit cards, business loans, commercial real estate financing, treasury management, investment banking, capital markets services and wealth management.