81,494 Citizens Financial Group, Inc. $CFG Shares Acquired by Private Management Group Inc.

Private Management Group Inc. raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 200.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,059 shares of the bank’s stock after buying an additional 81,494 shares during the quarter. Private Management Group Inc.’s holdings in Citizens Financial Group were worth $7,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in shares of Citizens Financial Group in the second quarter worth about $223,386,000. Tidal Investments LLC raised its position in shares of Citizens Financial Group by 12.4% in the second quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after purchasing an additional 16,000 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Citizens Financial Group during the 2nd quarter valued at approximately $95,642,000. Citizens Financial Group Inc. RI lifted its stake in shares of Citizens Financial Group by 145.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 773,677 shares of the bank’s stock valued at $49,330,000 after buying an additional 458,698 shares in the last quarter. Finally, Sterling Investment Management LLC purchased a new stake in shares of Citizens Financial Group during the 3rd quarter valued at approximately $2,164,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 0.3%

Shares of CFG opened at $64.91 on Wednesday. Citizens Financial Group, Inc. has a twelve month low of $49.00 and a twelve month high of $75.33. The stock has a market cap of $27.21 billion, a PE ratio of 13.06, a P/E/G ratio of 0.59 and a beta of 0.74. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. The business’s 50-day moving average price is $65.70 and its 200-day moving average price is $65.65.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period last year, the business earned $1.05 earnings per share. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.08 annualized dividend and a yield of 3.2%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s dividend payout ratio is currently 41.85%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CFG. The Goldman Sachs Group cut their price objective on shares of Citizens Financial Group from $81.00 to $79.00 and set a “buy” rating for the company in a report on Monday, October 19th. Robert W. Baird boosted their target price on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Barclays increased their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. DA Davidson set a $82.00 target price on Citizens Financial Group in a research report on Monday, October 19th. Finally, Keefe, Bruyette & Woods raised their price target on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.79.

About Citizens Financial Group

Citizens Financial Group, Inc. is a bank holding company headquartered in Providence, Rhode Island. Through Citizens Bank and related businesses, it provides retail and commercial banking services to individuals, businesses and institutions. Its offerings include checking and savings accounts, mortgages, personal and business loans, credit cards, wealth management, and commercial lending and cash-management services. The company also provides capital markets and other financial services to corporate clients.