Klingman & Associates LLC Has $27.40 Million Stake in Citizens Financial Group, Inc. $CFG

Klingman & Associates LLC grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 7.0% during the first quarter, Holdings Channel.com reports. The firm owned 456,878 shares of the bank’s stock after acquiring an additional 29,861 shares during the period. Citizens Financial Group accounts for about 1.3% of Klingman & Associates LLC’s portfolio, making the stock its 23rd largest position. Klingman & Associates LLC’s holdings in Citizens Financial Group were worth $27,399,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Citizens Financial Group in the 4th quarter valued at about $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Citizens Financial Group during the first quarter valued at approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at approximately $29,000. Activest Wealth Management raised its position in Citizens Financial Group by 5,600.0% in 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, DV Equities LLC acquired a new position in Citizens Financial Group during the 4th quarter worth $35,000. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the subject of several research reports. DA Davidson lifted their target price on Citizens Financial Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Evercore reaffirmed an “outperform” rating and set a $80.00 price target on shares of Citizens Financial Group in a research note on Monday, July 6th. Barclays raised their price target on Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Robert W. Baird boosted their price objective on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Finally, Citigroup boosted their price objective on Citizens Financial Group from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Monday. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average target price of $78.55.

Insiders Place Their Bets

In other news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider directly owned 22,565 shares of the company’s stock, valued at $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.67% of the company’s stock.

Citizens Financial Group Stock Down 0.9%

NYSE:CFG opened at $71.79 on Friday. 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 $45.90 and a 12-month high of $74.70. The stock’s fifty day simple moving average is $67.26 and its 200-day simple moving average is $63.99. The firm has a market capitalization of $30.36 billion, a P/E ratio of 15.57, a P/E/G ratio of 0.55 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating 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 return on equity of 8.85% and a net margin of 17.18%.Citizens Financial Group’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. Equities research analysts expect that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is presently 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.