Citizens Financial Group, Inc. $CFG Stock Holdings Lifted by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners increased its Citizens Financial Group stake by 79.4% in the third quarter, bringing its holdings to 52,448 shares valued at approximately $3.34 million. Institutional investors collectively own 94.9% of CFG’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $79.08. Recent targets range from $72.50 to $90.00.
• Citizens Financial Group beat quarterly earnings expectations, reporting $1.30 in EPS versus a $1.25 consensus and $2.28 billion in revenue, up 12.1% year over year. CEO Bruce Van Saun separately sold 129,369 shares worth about $9.32 million.

Curated Wealth Partners LLC grew its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 79.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,448 shares of the bank's stock after acquiring an additional 23,220 shares during the period. Curated Wealth Partners LLC's holdings in Citizens Financial Group were worth $3,344,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Citizens Financial Group during the second quarter valued at approximately $3,415,046,000. Dimensional Fund Advisors LP lifted its position in Citizens Financial Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank's stock valued at $282,927,000 after acquiring an additional 28,602 shares during the last quarter. Amundi increased its position in shares of Citizens Financial Group by 31.2% during the second quarter. Amundi now owns 3,685,819 shares of the bank's stock worth $258,265,000 after purchasing an additional 875,666 shares in the last quarter. Bank of America Corp DE purchased a new stake in Citizens Financial Group in the second quarter valued at about $223,386,000. Finally, Legal & General Group Plc purchased a new stake in shares of Citizens Financial Group during the second quarter worth about $207,234,000. Institutional investors own 94.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CFG shares. JPMorgan Chase & Co. decreased their price target on shares of Citizens Financial Group from $78.00 to $72.50 and set an "overweight" rating for the company in a report on Friday, October 2nd. Keefe, Bruyette & Woods raised 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 report on Friday, July 17th. Cantor Fitzgerald reduced 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 report on Wednesday. Weiss Ratings restated a "buy (b)" rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Finally, Raymond James Financial started coverage on Citizens Financial Group in a report on Tuesday, October 6th. They issued a "strong-buy" rating and a $77.00 price objective on the stock. 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.08.

Insider Activity at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.67% of the company's stock.

Citizens Financial Group Trading Up 1.6%

NYSE:CFG traded up $1.01 during trading hours on Thursday, reaching $63.58. 1,226,535 shares of the stock were exchanged, compared to its average volume of 4,578,325. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $26.78 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.58 and a beta of 0.72. Citizens Financial Group, Inc. has a twelve month low of $47.96 and a twelve month high of $75.33. The business has a 50-day moving average of $68.40 and a two-hundred day moving average of $67.03.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate 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%. The firm's revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. On average, equities analysts predict that Citizens Financial Group, Inc. will post 5.29 EPS for the current year.

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 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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