HighTower Advisors LLC Has $3.43 Million Stock Position in Citizens Financial Group, Inc. $CFG

Key Points

• HighTower Advisors LLC increased its stake in Citizens Financial Group by 51.8% in the fourth quarter, ending with 58,648 shares valued at about $3.43 million.
• Citizens Financial Group reported better-than-expected quarterly results, posting EPS of $1.13 versus the $1.10 estimate and revenue of $2.17 billion, up 12% from a year earlier.
• The bank also paid a quarterly dividend of $0.46 per share, implying an annualized yield of about 3.0%, while analysts remain generally positive with a Moderate Buy consensus and average target price of $70.88.

HighTower Advisors LLC lifted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 51.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,648 shares of the bank's stock after purchasing an additional 20,008 shares during the quarter. HighTower Advisors LLC's holdings in Citizens Financial Group were worth $3,426,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CFG. Alyeska Investment Group L.P. acquired a new stake in shares of Citizens Financial Group during the 3rd quarter worth $87,173,000. Zurich Insurance Group Ltd FI grew its holdings in shares of Citizens Financial Group by 326.3% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 2,082,961 shares of the bank's stock worth $110,730,000 after purchasing an additional 1,594,326 shares in the last quarter. Artemis Investment Management LLP grew its holdings in shares of Citizens Financial Group by 160.4% during the 4th quarter. Artemis Investment Management LLP now owns 2,448,050 shares of the bank's stock worth $142,991,000 after purchasing an additional 1,508,070 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of Citizens Financial Group by 411.6% during the 4th quarter. Impax Asset Management Group plc now owns 1,729,587 shares of the bank's stock worth $101,025,000 after purchasing an additional 1,391,483 shares in the last quarter. Finally, Ninety One UK Ltd grew its holdings in shares of Citizens Financial Group by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 6,574,714 shares of the bank's stock worth $384,029,000 after purchasing an additional 763,098 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $62.17 on Friday. The business's 50-day moving average price is $62.39 and its 200-day moving average price is $60.44. Citizens Financial Group, Inc. has a 12 month low of $39.40 and a 12 month high of $68.79. The firm has a market capitalization of $26.29 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.50 and a beta of 0.70. 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 (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate 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 was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group's payout ratio is presently 43.50%.

Insider Buying and Selling

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction that occurred on 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 sale, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Susan Lamonica sold 13,258 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the completion of the sale, the insider directly owned 165,971 shares of the company's stock, valued at $9,632,956.84. This trade represents a 7.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Truist Financial increased their target price on Citizens Financial Group from $63.00 to $69.00 and gave the stock a "hold" rating in a report on Friday, April 17th. Citigroup reissued a "buy" rating on shares of Citizens Financial Group in a report on Friday, May 8th. JPMorgan Chase & Co. increased their target price on Citizens Financial Group from $68.00 to $68.50 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Royal Bank Of Canada raised their price objective on Citizens Financial Group from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Finally, Keefe, Bruyette & Woods raised their price objective on Citizens Financial Group from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Nineteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $70.88.

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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