NewEdge Advisors LLC Purchases 45,071 Shares of Citizens Financial Group, Inc. $CFG

NewEdge Advisors LLC boosted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 67.3% in the first quarter, HoldingsChannel reports. The fund owned 112,088 shares of the bank’s stock after purchasing an additional 45,071 shares during the quarter. NewEdge Advisors LLC’s holdings in Citizens Financial Group were worth $6,722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CFG. Caerus Investment Advisors LLC boosted its position in shares of Citizens Financial Group by 2.7% in the 1st quarter. Caerus Investment Advisors LLC now owns 9,772 shares of the bank’s stock worth $586,000 after purchasing an additional 256 shares in the last quarter. Cozad Asset Management Inc. acquired a new stake in Citizens Financial Group in the first quarter worth about $270,000. Glenmede Trust Co. NA grew its stake in shares of Citizens Financial Group by 12.0% during the first quarter. Glenmede Trust Co. NA now owns 31,989 shares of the bank’s stock worth $1,918,000 after acquiring an additional 3,422 shares during the last quarter. Summitry LLC increased its holdings in shares of Citizens Financial Group by 27.5% during the first quarter. Summitry LLC now owns 7,697 shares of the bank’s stock valued at $462,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Montchanin Asset Management LLC purchased a new position in shares of Citizens Financial Group in the 1st quarter valued at approximately $600,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on CFG shares. Citigroup boosted their target price on shares of Citizens Financial Group from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Robert W. Baird upped their target price on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Stephens lifted their price target on Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Cantor Fitzgerald boosted their price target on Citizens Financial Group from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, UBS Group upped their target price on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.05.

Insider Buying and Selling

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by corporate insiders.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $72.59 on Tuesday. The company’s 50-day moving average is $69.69 and its two-hundred day moving average is $64.98. Citizens Financial Group, Inc. has a 1-year low of $46.79 and a 1-year high of $74.70. 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 firm has a market capitalization of $30.57 billion, a price-to-earnings ratio of 15.75, a PEG 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. Analysts forecast that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm 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 dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.5%. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.

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.