9,620 Shares in Citizens Financial Group, Inc. $CFG Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 9,620 shares of the bank’s stock, valued at approximately $674,000.

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

Insider Activity 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 shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the sale, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. This represents 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 Trading Down 0.5%

NYSE:CFG opened at $74.39 on Tuesday. Citizens Financial Group, Inc. has a 52-week low of $47.96 and a 52-week high of $75.33. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $70.77 and a 200-day simple moving average of $65.36. The company has a market capitalization of $31.33 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 0.57 and a beta of 0.67.

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 analysts’ consensus estimates 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 firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the company earned $0.92 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio is 39.91%.

Analysts Set New Price Targets

CFG has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Stephens increased their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. DA Davidson restated a “neutral” rating on shares of Citizens Financial Group in a research report on Friday. Citigroup lifted their price objective on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Truist Financial increased their target price on Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.05.

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.