Jupiter Topco LLC Acquires New Shares in Citizens Financial Group, Inc. $CFG

Jupiter Topco LLC bought a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 51,513 shares of the bank's stock, valued at approximately $3,610,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Citizens Financial Group during the second quarter worth about $3,415,046,000. Geode Capital Management LLC increased its stake in Citizens Financial Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank's stock worth $661,052,000 after purchasing an additional 32,264 shares in the last quarter. Morgan Stanley increased its stake in Citizens Financial Group by 2.7% during the 4th quarter. Morgan Stanley now owns 11,217,975 shares of the bank's stock worth $655,242,000 after purchasing an additional 298,779 shares in the last quarter. Capital International Investors raised its holdings in Citizens Financial Group by 32.3% during the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank's stock worth $467,389,000 after buying an additional 1,953,372 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Citizens Financial Group by 56.9% during the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank's stock worth $451,075,000 after buying an additional 2,799,050 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Stock Down 1.1%

Shares of CFG stock opened at $68.10 on Wednesday. The firm's fifty day moving average price is $71.46 and its two-hundred day moving average price is $65.69. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a 1 year low of $47.96 and a 1 year high of $75.33. The firm has a market capitalization of $28.68 billion, a P/E ratio of 14.77, a PEG ratio of 0.62 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 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 the consensus estimate of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The company's quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. On average, equities analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.7%. Citizens Financial Group's dividend payout ratio (DPR) is currently 39.91%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CFG shares. JPMorgan Chase & Co. increased their price objective on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Robert W. Baird boosted their price objective on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. UBS Group upped their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada boosted their price target on Citizens Financial Group from $70.00 to $79.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.25.

Insider Activity at Citizens Financial Group

In related news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.67% of the stock is currently owned by company insiders.

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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