Evolve Private Wealth LLC Buys New Holdings in Citizens Financial Group, Inc. $CFG

Evolve Private Wealth LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,217 shares of the bank’s stock, valued at approximately $856,000.

Several other institutional investors have also added to or reduced their stakes in CFG. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Citizens Financial Group in the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC bought a new stake in shares of Citizens Financial Group in the first quarter worth about $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Citizens Financial Group in the fourth quarter worth about $29,000. Activest Wealth Management increased its holdings in Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after purchasing an additional 504 shares during the period. Finally, Elevation Wealth Partners LLC raised 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 valued at $30,000 after purchasing an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.

Citizens Financial Group Trading Down 0.0%

Citizens Financial Group stock opened at $69.84 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $71.15 and its two-hundred day simple moving average is $65.57. Citizens Financial Group, Inc. has a 12 month low of $47.96 and a 12 month high of $75.33. The company has a market capitalization of $29.42 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. Citizens Financial Group’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. As a group, equities analysts predict that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were given a dividend of $0.46 per share. 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 dividend payout ratio (DPR) is 39.91%.

Analyst Ratings Changes

A number of brokerages recently commented on CFG. Citigroup upped their target price on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 20th. Argus set a $80.00 price target on shares of Citizens Financial Group in a report on Wednesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. 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. Finally, Morgan Stanley raised their target price on shares of Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Citizens Financial Group Company Profile

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.