Private Advisor Group LLC Has $2.12 Million Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

Private Advisor Group LLC lowered its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,806 shares of the bank’s stock after selling 2,480 shares during the quarter. Private Advisor Group LLC’s holdings in Citizens Financial Group were worth $2,119,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Citizens Financial Group in the second quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in shares of Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after acquiring an additional 678 shares during the period. Private Ocean LLC boosted its holdings in shares of Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after acquiring an additional 838 shares during the period. Quarry LP boosted its holdings in shares of Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after acquiring an additional 714 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Citizens Financial Group during the second quarter worth approximately $48,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 0.1 %

Shares of NYSE:CFG opened at $39.71 on Friday. The company has a fifty day moving average of $40.61 and a 200-day moving average of $36.70. The company has a market capitalization of $18.07 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $43.96.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.42 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.23%. Citizens Financial Group’s dividend payout ratio is 60.87%.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CFG shares. Royal Bank of Canada boosted their price objective on Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Raymond James assumed coverage on Citizens Financial Group in a research note on Thursday, July 11th. They issued a “market perform” rating for the company. Stephens boosted their price target on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Morgan Stanley boosted their price target on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Piper Sandler boosted their price target on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Hold” and an average target price of $42.20.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.