Corient Private Wealth LLC Has $6.24 Million Position in Citizens Financial Group, Inc. $CFG

Key Points

• Corient Private Wealth increased its stake in Citizens Financial Group by 16.3% in the fourth quarter, ending with 106,846 shares valued at about $6.24 million.
• Institutional interest in CFG remains high, with hedge funds and other investors owning 94.9% of the stock; meanwhile, insider Michelle Moosally sold 6,050 shares in May.
• Citizens Financial Group posted solid quarterly results, with EPS of $1.13 and revenue of $2.17 billion, and analysts currently rate the stock a Moderate Buy with a consensus target price of $71.36.

Corient Private Wealth LLC boosted its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,846 shares of the bank's stock after acquiring an additional 14,965 shares during the period. Corient Private Wealth LLC's holdings in Citizens Financial Group were worth $6,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CFG. Allspring Global Investments Holdings LLC grew its stake in Citizens Financial Group by 5.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank's stock valued at $29,968,000 after buying an additional 25,180 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Citizens Financial Group during the fourth quarter worth approximately $2,412,000. WealthTrust Asset Management LLC acquired a new stake in Citizens Financial Group during the third quarter worth approximately $891,000. Geode Capital Management LLC boosted its holdings in shares of Citizens Financial Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank's stock worth $661,052,000 after acquiring an additional 32,264 shares during the period. Finally, Todd Asset Management LLC boosted its holdings in shares of Citizens Financial Group by 10.6% during the fourth quarter. Todd Asset Management LLC now owns 991,510 shares of the bank's stock worth $57,914,000 after acquiring an additional 94,774 shares during the period. Institutional investors and hedge funds own 94.90% of the company's stock.

Insider Buying and Selling

In related news, insider Michelle Moosally sold 6,050 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the transaction, the insider owned 22,565 shares of the company's stock, valued at $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Citizens Financial Group in a research note on Tuesday, June 9th. Evercore restated an "outperform" rating and issued a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Morgan Stanley lowered their price objective on Citizens Financial Group from $80.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Finally, Weiss Ratings raised Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Eighteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group has a consensus rating of "Moderate Buy" and a consensus target price of $71.36.

Citizens Financial Group Stock Up 1.5%

Shares of CFG opened at $70.51 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. Citizens Financial Group, Inc. has a 12 month low of $43.33 and a 12 month high of $71.21. The firm's 50 day moving average is $64.43 and its 200-day moving average is $62.23. The stock has a market capitalization of $29.82 billion, a PE ratio of 16.67, a P/E/G ratio of 0.55 and a beta of 0.68.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. Equities research analysts forecast that Citizens Financial Group, Inc. will post 5.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a $0.46 dividend. The ex-dividend date was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group's dividend payout ratio (DPR) is presently 43.50%.

Citizens Financial Group Company Profile

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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