Corient Private Wealth LP Takes Position in Citizens Financial Group, Inc. $CFG

Corient Private Wealth LP bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 395,589 shares of the bank’s stock, valued at approximately $16,669,000. Corient Private Wealth LP owned approximately 0.09% of Citizens Financial Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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. University of Texas Texas AM Investment Management Co. bought a new position in Citizens Financial Group in the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC bought a new position in Citizens Financial Group in the first quarter valued at about $27,000. Keating Financial Advisory Services Inc. acquired a new stake in Citizens Financial Group in the second quarter worth about $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Citizens Financial Group in the fourth quarter worth about $29,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Saun Bruce Van sold 129,369 shares of the company’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 in the company, valued at $82,214,789.41. This represents a 10.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CFG. UBS Group raised their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Citigroup raised their price objective on shares of Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Cantor Fitzgerald upped their target price on shares of Citizens Financial Group from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Finally, Barclays increased their price target on Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on 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 Stock Performance

Shares of NYSE:CFG opened at $69.76 on Friday. The firm’s 50 day simple moving average is $71.46 and its 200 day simple moving average is $65.69. Citizens Financial Group, Inc. has a fifty-two week low of $47.96 and a fifty-two week high of $75.33. The company has a market capitalization of $29.38 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 0.54 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

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

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.