38,871 Shares in Citizens Financial Group, Inc. $CFG Bought by Jeppson Wealth Management LLC

Key Points

• Jeppson Wealth Management bought 38,871 Citizens Financial Group shares during the third quarter, valued at approximately $2.48 million. Institutional investors collectively own 94.9% of the bank’s stock.
• Analysts maintain a generally positive outlook, with Citizens Financial Group receiving a consensus “Moderate Buy” rating and an average price target of $78.58, above its reported $62.70 share price.
• Citizens Financial Group exceeded quarterly EPS expectations, reporting $1.41 versus the $1.39 consensus estimate, and raised its quarterly dividend to $0.52 per share, representing a 3.3% annualized yield.

Jeppson Wealth Management LLC bought a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 38,871 shares of the bank's stock, valued at approximately $2,478,000.

Several other institutional investors have also bought and sold shares of the stock. Cedar Mountain Advisors LLC bought a new position in Citizens Financial Group during the 1st quarter valued at $27,000. Elevation Wealth Partners LLC boosted its holdings in Citizens Financial Group by 319.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock worth $30,000 after acquiring an additional 323 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of Citizens Financial Group in the 2nd quarter worth $35,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Citizens Financial Group in the 2nd quarter worth $35,000. Finally, Align Financial LLC bought a new stake in shares of Citizens Financial Group in the 3rd quarter worth $35,000. Institutional investors own 94.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CFG shares. Stephens raised their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an "equal weight" rating in a research report on Friday, July 17th. Cantor Fitzgerald cut their price target on shares of Citizens Financial Group from $84.00 to $78.00 and set an "overweight" rating on the stock in a report on Wednesday, October 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Barclays upped their price objective on shares of Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Finally, Citigroup increased their price objective on shares of Citizens Financial Group from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $78.58.

Citizens Financial Group Stock Down 1.0%

Shares of NYSE:CFG opened at $62.70 on Tuesday. The company has a market capitalization of $26.41 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $67.83 and a two-hundred day moving average price of $67.13. Citizens Financial Group, Inc. has a 1 year low of $49.00 and a 1 year high of $75.33.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates 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 period last year, the firm posted $1.05 EPS. Analysts forecast that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.52 per share. The ex-dividend date 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 3.3%. Citizens Financial Group's dividend payout ratio (DPR) is currently 37.02%.

Insiders Place Their Bets

In related news, CEO Bruce Van Saun sold 129,369 shares of the firm's stock in a transaction dated 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 owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.67% of the company's stock.

About Citizens Financial Group

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.

Want to see what other hedge funds are holding CFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citizens Financial Group, Inc. (NYSE:CFG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.