Citizens Financial Group, Inc. $CFG Stock Acquired by Krilogy Financial LLC

Key Points

• Krilogy Financial increased its Citizens Financial Group stake by 419.6% in the third quarter, owning 139,536 shares valued at approximately $8.9 million. Institutional investors collectively own 94.9% of CFG.
• Citizens Financial Group exceeded quarterly expectations, reporting $1.30 in EPS versus the $1.25 estimate and $2.28 billion in revenue, up 12.1% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $79.38, while CEO Bruce Van Saun sold 129,369 shares worth about $9.3 million.

Krilogy Financial LLC increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 419.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,536 shares of the bank's stock after buying an additional 112,683 shares during the period. Krilogy Financial LLC's holdings in Citizens Financial Group were worth $8,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFG. Elevation Wealth Partners LLC grew its position 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 valued at $30,000 after acquiring an additional 323 shares during the period. Cedar Mountain Advisors LLC acquired a new position in shares of Citizens Financial Group during the 1st quarter worth about $27,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth about $35,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Citizens Financial Group in the 4th quarter valued at about $29,000. Finally, Virtus Advisers LLC bought a new stake in shares of Citizens Financial Group in the 2nd quarter valued at about $35,000. 94.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,140,763 shares of the company's stock, valued at $82,214,789.41. This represents a 10.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.67% of the company's stock.

Citizens Financial Group Price Performance

NYSE:CFG opened at $63.36 on Wednesday. The company has a market cap of $26.69 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.58 and a beta of 0.72. The firm's fifty day moving average price is $68.62 and its two-hundred day moving average price is $67.00. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33. 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 - Get Free Report) last posted its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. The company had revenue of $2.28 billion during 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%. Citizens Financial Group's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. Equities analysts expect that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current year.

Wall Street Analyst Weigh In

CFG has been the subject of several recent analyst reports. Stephens raised their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an "equal weight" rating in a research note on Friday, July 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. 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 note on Friday, July 17th. UBS Group cut their price objective on 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. Finally, Jefferies Financial Group lifted their target price on Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.38.

Citizens Financial Group Company 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 individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company's consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.

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