Cohen Capital Management Inc. Purchases New Position in Citizens Financial Group, Inc. $CFG

Cohen Capital Management Inc. purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 67,037 shares of the bank’s stock, valued at approximately $4,274,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC acquired a new position in shares of Citizens Financial Group during the first quarter worth approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Citizens Financial Group in the 4th quarter valued at approximately $29,000. Elevation Wealth Partners LLC increased its position in Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after acquiring an additional 323 shares during the period. Virtus Advisers LLC bought a new stake in Citizens Financial Group during the 2nd quarter valued at $35,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Citizens Financial Group during the 2nd quarter valued at $35,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price target on Citizens Financial Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Monday, September 28th. Stephens raised their price target on Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Cantor Fitzgerald lifted their price objective on shares of Citizens Financial Group from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. TD Cowen started coverage on shares of Citizens Financial Group in a report on Thursday, October 8th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.38.

Insider Activity at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.67% of the company’s stock.

Citizens Financial Group Price Performance

NYSE CFG opened at $63.36 on Wednesday. Citizens Financial Group, Inc. has a 12 month low of $47.96 and a 12 month high of $75.33. The firm has a market capitalization of $26.69 billion, a PE ratio of 13.74, a P/E/G ratio of 0.58 and a beta of 0.72. The company’s 50 day simple moving average is $68.62 and its 200 day simple moving average is $67.00. 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 released its 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 firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, equities research analysts forecast that Citizens Financial Group, Inc. will post 5.29 EPS for the current fiscal year.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.