Northwestern Mutual Wealth Management Co. Purchases Shares of 20,105 Citizens Financial Group, Inc. $CFG

Northwestern Mutual Wealth Management Co. acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,105 shares of the bank’s stock, valued at approximately $1,409,000.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Citizens Financial Group during the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Citizens Financial Group during the first quarter worth $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 $29,000. Activest Wealth Management raised its holdings in shares of Citizens Financial Group by 5,600.0% in the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after buying an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after buying an additional 323 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.5%

Shares of NYSE CFG opened at $69.86 on Wednesday. Citizens Financial Group, Inc. has a 52-week low of $47.96 and a 52-week high of $75.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market cap of $29.43 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.54 and a beta of 0.67. The firm has a 50 day moving average price of $71.27 and a 200 day moving average price of $65.62.

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

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.6%. Citizens Financial Group’s payout ratio is currently 39.91%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted 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 note on Friday, July 17th. Evercore restated an “outperform” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research report on Monday, July 6th. Citigroup increased their price objective on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Barclays boosted their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Citizens Financial Group 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.