1,989,874 Shares in Citizens Financial Group, Inc. $CFG Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,989,874 shares of the bank’s stock, valued at approximately $139,431,000.

Several other hedge funds also recently bought and sold shares of CFG. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Citizens Financial Group during the 4th quarter worth about $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Citizens Financial Group in the 1st quarter valued at approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Citizens Financial Group in the fourth quarter worth approximately $29,000. Activest Wealth Management increased its holdings in Citizens Financial Group by 5,600.0% in the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after buying an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its position in Citizens Financial Group by 319.8% during the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after acquiring an additional 323 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup raised their price objective on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Jefferies Financial Group lifted their price target on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Evercore restated an “outperform” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research note on Monday, July 6th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The transaction 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 Price Performance

NYSE CFG opened at $70.23 on Tuesday. Citizens Financial Group, Inc. has a twelve month low of $47.96 and a twelve month 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 capitalization of $29.58 billion, a PE ratio of 15.23, a P/E/G ratio of 0.53 and a beta of 0.67. The stock has a 50-day simple moving average of $71.22 and a 200 day simple moving average of $65.59.

Citizens Financial Group (NYSE:CFG) last released 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 firm 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%.The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Research analysts anticipate that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group’s payout ratio 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.