Caisse de depot et placement du Quebec Invests $55.38 Million in Citizens Financial Group, Inc. $CFG

Caisse de depot et placement du Quebec purchased a new position in Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 790,384 shares of the bank’s stock, valued at approximately $55,382,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CFG. University of Texas Texas AM Investment Management Co. bought a new position in Citizens Financial Group during the 4th quarter worth $26,000. Cedar Mountain Advisors LLC bought a new stake in Citizens Financial Group in the first quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Citizens Financial Group in the fourth quarter valued at $29,000. Activest Wealth Management boosted its holdings in shares of Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after acquiring an additional 504 shares during the period. Finally, Elevation Wealth Partners LLC boosted its holdings in shares of Citizens Financial Group by 319.8% during the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after acquiring an additional 323 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Buying and Selling at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the company’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 sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. 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 research note on Friday, July 17th. Cantor Fitzgerald upped their target price on shares of Citizens Financial Group from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Citigroup lifted their price target on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 20th. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Citizens Financial Group Trading Down 0.4%

NYSE:CFG opened at $70.22 on Friday. The stock has a market cap of $29.58 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.54 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33. The business has a fifty day moving average of $71.41 and a 200-day moving average of $65.66.

Citizens Financial Group (NYSE:CFG) last issued 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 for the quarter, compared to analysts’ expectations of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. Equities analysts predict that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Announces Dividend

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

About Citizens Financial Group

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.