189,873 Shares in Citizens Financial Group, Inc. $CFG Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 189,873 shares of the bank’s stock, valued at approximately $13,304,000.

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

Insider Buying and Selling

In related news, CEO Saun Bruce Van sold 129,369 shares of the firm’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 transaction, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This trade 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 accessible through this hyperlink. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Trading Down 1.2%

NYSE CFG opened at $73.45 on Wednesday. The stock has a market capitalization of $30.94 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.57 and a beta of 0.67. The stock’s 50 day moving average price is $70.92 and its two-hundred day moving average price is $65.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors 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 2.5%. Citizens Financial Group’s dividend payout ratio is presently 39.91%.

Wall Street Analysts Forecast Growth

CFG has been the topic of several research analyst reports. Jefferies Financial Group raised their target price on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Barclays upped their price target on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Cantor Fitzgerald raised their price objective on shares of Citizens Financial Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. UBS Group boosted their price objective on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley upped their target price on shares of Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.05.

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.