Meeder Advisory Services Inc. Makes New $1.65 Million Investment in Citizens Financial Group, Inc. $CFG

Meeder Advisory Services Inc. bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,478 shares of the bank’s stock, valued at approximately $1,645,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. bought a new stake in Citizens Financial Group in the fourth quarter worth $26,000. Cedar Mountain Advisors LLC purchased a new position in shares of Citizens Financial Group in the 1st quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Citizens Financial Group in the 4th quarter worth $29,000. Activest Wealth Management increased its holdings in shares of Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after buying an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after buying an additional 323 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. The trade was a 10.19% 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 this link. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the subject of a number of analyst reports. Robert W. Baird increased their price target 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. Citigroup boosted their price objective on Citizens Financial Group from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Royal Bank Of Canada upped their price objective on Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Truist Financial lifted their target price on Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Cantor Fitzgerald boosted their target price on Citizens Financial Group from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average target price of $79.25.

Citizens Financial Group Stock Down 3.7%

Shares of NYSE:CFG opened at $70.75 on Thursday. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33. The business has a 50 day simple moving average of $71.04 and a two-hundred day simple moving average of $65.48. The firm has a market capitalization of $29.80 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were paid a $0.46 dividend. The ex-dividend date was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 39.91%.

Citizens Financial Group 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.