Citizens Financial Group, Inc. $CFG Stock Holdings Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 1,585.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 698,268 shares of the bank’s stock after acquiring an additional 656,833 shares during the quarter. State of Alaska Department of Revenue’s holdings in Citizens Financial Group were worth $44,522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CFG. Bank of America Corp DE bought a new stake in Citizens Financial Group in the second quarter valued at $223,386,000. Freestone Grove Partners LP bought a new position in Citizens Financial Group in the second quarter worth $95,642,000. Andra AP fonden increased its stake in shares of Citizens Financial Group by 94.7% in the 2nd quarter. Andra AP fonden now owns 269,900 shares of the bank’s stock worth $18,912,000 after acquiring an additional 131,300 shares in the last quarter. Junto Capital Management LP lifted its position in Citizens Financial Group by 3.3% during the 2nd quarter. Junto Capital Management LP now owns 1,307,340 shares of the bank’s stock valued at $91,605,000 after acquiring an additional 42,248 shares during the period. Finally, Tidal Investments LLC lifted its position in Citizens Financial Group by 12.4% during the 2nd quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after acquiring an additional 16,000 shares during the period. 94.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CFG. JPMorgan Chase & Co. dropped their price objective on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. Cantor Fitzgerald decreased their target price on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial lowered their target price on shares of Citizens Financial Group from $80.00 to $77.00 and set a “hold” rating for the company in a report on Wednesday, September 23rd. Raymond James Financial assumed coverage on Citizens Financial Group in a research report on Tuesday, October 6th. They issued a “strong-buy” rating and a $77.00 price target on the stock. Finally, Argus set a $80.00 price target on Citizens Financial Group in a research report on Wednesday, July 29th. 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. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $79.08.

Citizens Financial Group Stock Up 1.9%

Shares of NYSE:CFG traded up $1.21 on Thursday, hitting $63.78. 1,390,491 shares of the company traded hands, compared to its average volume of 4,579,596. 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 50 day simple moving average of $68.40 and a 200-day simple moving average of $67.03. The company has a market cap of $26.86 billion, a PE ratio of 13.83, a PEG ratio of 0.58 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. The firm had revenue of $2.28 billion during 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%. Citizens Financial Group’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, research analysts expect that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current year.

Citizens Financial Group 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.