Global Retirement Partners LLC Purchases 21,076 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• Global Retirement Partners LLC boosted its stake in Citizens Financial Group by 585.9% in the fourth quarter, buying 21,076 additional shares and bringing its total holdings to 24,673 shares worth about $1.44 million.
• Wall Street sentiment remains positive on CFG, with 19 Buy ratings and one Hold rating; the consensus target price is $70.88, according to MarketBeat.
• Citizens Financial Group reported solid quarterly results, posting $1.13 EPS versus expectations of $1.10 and revenue of $2.17 billion, while also paying a quarterly dividend of $0.46 per share for a 2.9% yield.

Global Retirement Partners LLC increased its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 585.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,673 shares of the bank's stock after acquiring an additional 21,076 shares during the period. Global Retirement Partners LLC's holdings in Citizens Financial Group were worth $1,441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Activest Wealth Management lifted its position in Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock valued at $30,000 after acquiring an additional 504 shares in the last quarter. Fortitude Family Office LLC lifted its position in Citizens Financial Group by 632.0% in the 4th quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock valued at $41,000 after acquiring an additional 613 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Citizens Financial Group in the 4th quarter valued at $50,000. State of Wyoming bought a new stake in Citizens Financial Group in the 2nd quarter valued at $39,000. Finally, Quest 10 Wealth Builders Inc. lifted its position in Citizens Financial Group by 261.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 893 shares of the bank's stock valued at $52,000 after acquiring an additional 646 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CFG has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of Citizens Financial Group from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Morgan Stanley cut their price objective on shares of 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. Evercore reaffirmed an "outperform" rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, April 21st. Weiss Ratings raised shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, March 3rd. Nineteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.88.

Insider Activity

In other news, insider Michelle Moosally sold 6,050 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider directly owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Susan Lamonica sold 13,258 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the transaction, the insider owned 165,971 shares in the company, valued at $9,632,956.84. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.67% of the company's stock.

Citizens Financial Group Trading Up 0.1%

Shares of NYSE:CFG opened at $62.93 on Monday. The company's 50-day moving average price is $61.76 and its two-hundred day moving average price is $60.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a one year low of $38.80 and a one year high of $68.79. The stock has a market capitalization of $26.61 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.50 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the previous year, the firm posted $0.77 EPS. The company's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 5.19 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 annualized dividend and a yield of 2.9%. Citizens Financial Group's payout ratio is 43.50%.

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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