Center For Asset Management LLC Takes $788,000 Position in Citizens Financial Group, Inc. $CFG

Center For Asset Management LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, Holdings Channel reports. The firm bought 14,830 shares of the bank’s stock, valued at approximately $788,000.

Several other institutional investors also recently bought and sold shares of CFG. Envestnet Asset Management Inc. grew its stake in shares of Citizens Financial Group by 25.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank’s stock worth $36,553,000 after purchasing an additional 140,641 shares during the period. Channing Capital Management LLC acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at $7,528,000. National Pension Service boosted its holdings in Citizens Financial Group by 33.5% during the third quarter. National Pension Service now owns 135,208 shares of the bank’s stock worth $7,188,000 after buying an additional 33,923 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Citizens Financial Group by 37.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock worth $25,284,000 after buying an additional 129,995 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new stake in Citizens Financial Group during the third quarter valued at $60,434,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Citizens Financial Group

In related news, insider Susan Lamonica sold 13,258 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider directly owned 165,971 shares in the company, valued at approximately $9,632,956.84. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. TD Cowen raised their target price on Citizens Financial Group from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Truist Financial upped their price target on Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Weiss Ratings upgraded Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Argus raised their price objective on Citizens Financial Group from $60.00 to $72.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Twenty analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.95.

Citizens Financial Group Stock Up 1.2%

CFG stock opened at $57.06 on Wednesday. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $68.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $62.21 and a 200-day simple moving average of $56.74. The stock has a market capitalization of $24.25 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.46 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $0.85 EPS. Citizens Financial Group’s revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Citizens Financial Group, Inc. will post 3.92 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 Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.2%. Citizens Financial Group’s payout ratio is currently 47.55%.

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.