Citizens Financial Group, Inc. $CFG Shares Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. raised its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 7.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 135,035 shares of the bank’s stock after buying an additional 9,655 shares during the period. Flputnam Investment Management Co.’s holdings in Citizens Financial Group were worth $9,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC boosted its stake in shares of Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC raised its position in Citizens Financial Group by 6.7% during the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after acquiring an additional 554 shares in the last quarter. Woodline Partners LP raised its position in Citizens Financial Group by 39.5% during the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after acquiring an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Citizens Financial Group by 93.4% in the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock valued at $439,000 after acquiring an additional 4,739 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Citizens Financial Group by 5.2% in the second quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank’s stock valued at $2,934,000 after acquiring an additional 3,225 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Ratings Changes

CFG has been the topic of several recent research reports. Barclays upped their price objective 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. UBS Group lifted their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Argus set a $80.00 target price on shares of Citizens Financial Group in a research note on Wednesday, July 29th. Citigroup increased their price target on shares of Citizens Financial Group from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $69.76 on Friday. The company has a market capitalization of $29.38 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.53 and a beta of 0.67. The business’s 50 day moving average is $71.46 and its two-hundred day moving average is $65.69. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a 12-month low of $47.96 and a 12-month high of $75.33.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The company had revenue of $2.28 billion for 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%.Citizens Financial Group’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. Analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS 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. Investors of record on Thursday, July 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 39.91%.

Insider Transactions at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction 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 approximately $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

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.