205,117 Citizens Financial Group, Inc. $CFG Shares Purchased by E. Ohman J or Asset Management AB

Key Points

• E. Ohman Jor Asset Management AB increased its Citizens Financial Group stake by 1,395.3%, purchasing 205,117 additional shares and bringing its holdings to 219,818 shares valued at approximately $14 million. Institutional investors collectively own 94.9% of CFG.
• Citizens Financial Group reported quarterly EPS of $1.41, topping estimates of $1.39, although revenue of $2.32 billion fell slightly short of expectations. The company also raised its quarterly dividend from $0.46 to $0.52 per share, implying a 3.2% yield.
• Analysts maintain a generally positive outlook, with CFG carrying a consensus “Moderate Buy” rating and an average price target of $77.47, despite several firms recently lowering their targets.

E. Ohman J or Asset Management AB raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 1,395.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 219,818 shares of the bank's stock after purchasing an additional 205,117 shares during the period. E. Ohman J or Asset Management AB owned 0.05% of Citizens Financial Group worth $14,016,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Elevation Wealth Partners LLC grew 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 buying an additional 323 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in Citizens Financial Group during the first quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth $35,000. Virtus Advisers LLC purchased a new position in shares of Citizens Financial Group during the 2nd quarter valued at about $35,000. Finally, Transamerica Financial Advisors LLC bought a new stake in Citizens Financial Group during the 2nd quarter worth approximately $38,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 0.5%

Shares of NYSE:CFG opened at $65.22 on Friday. The company has a market cap of $27.47 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.59 and a beta of 0.72. Citizens Financial Group, Inc. has a 12 month low of $49.00 and a 12 month high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $67.30 and a 200 day moving average price of $67.22.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to analysts' expectations of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, equities research analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Citizens Financial Group's previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a yield of 3.2%. Citizens Financial Group's payout ratio is 37.02%.

Analysts Set New Price Targets

CFG has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their price objective on shares of Citizens Financial Group from $79.00 to $74.00 and set an "outperform" rating for the company in a research note on Monday. UBS Group dropped their target price on shares of Citizens Financial Group from $82.00 to $77.00 and set a "buy" rating for the company in a research report on Monday, October 5th. Cantor Fitzgerald cut their target price on shares of Citizens Financial Group from $84.00 to $78.00 and set an "overweight" rating for the company in a research note on Wednesday, October 14th. Evercore reiterated an "outperform" rating and issued a $78.00 price target on shares of Citizens Financial Group in a research note on Thursday, October 1st. Finally, Truist Financial cut their price objective on Citizens Financial Group from $77.00 to $70.00 and set a "hold" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and an average price target of $77.47.

Citizens Financial Group Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.

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