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

Caisse de depot et placement du Quebec purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 790,384 shares of the bank's stock, valued at approximately $55,382,000. Caisse de depot et placement du Quebec owned approximately 0.19% of Citizens Financial Group at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

CFG has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Citizens Financial Group from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Jefferies Financial Group raised their price target on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Finally, Stephens upped 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 report on Friday, July 17th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Citizens Financial Group presently has an average rating of "Moderate Buy" and a consensus price target of $79.25.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction 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 transaction, the chief executive officer owned 1,140,763 shares of the company's stock, valued at $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.67% of the stock is owned by company insiders.

Citizens Financial Group Stock Down 0.4%

Shares of Citizens Financial Group stock opened at $70.22 on Friday. The business has a 50-day moving average price of $71.41 and a 200 day moving average price of $65.66. Citizens Financial Group, Inc. has a fifty-two week low of $47.96 and a fifty-two week high of $75.33. The firm has a market cap of $29.58 billion, a P/E ratio of 15.23, a P/E/G ratio of 0.54 and a beta of 0.67. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.Citizens Financial Group's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were paid a dividend of $0.46 per share. The ex-dividend date was Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.6%. Citizens Financial Group's dividend payout ratio (DPR) 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.

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