Klingman & Associates LLC Has $27.40 Million Stake in Citizens Financial Group, Inc. $CFG

Key Points

• Klingman & Associates LLC increased its stake in Citizens Financial Group by 7.0% in the first quarter, owning 456,878 shares worth about $27.4 million at quarter-end.
• Wall Street sentiment remains constructive, with Citizens Financial Group receiving a consensus “Moderate Buy” rating and an average price target of $78.55; several firms recently raised their targets.
• The bank posted solid quarterly results and raised its dividend, reporting EPS of $1.30 versus the $1.25 estimate and revenue growth of 12.1% year over year, while declaring a quarterly dividend of $0.46 per share.

Klingman & Associates LLC lifted its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 7.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 456,878 shares of the bank's stock after purchasing an additional 29,861 shares during the period. Citizens Financial Group accounts for approximately 1.3% of Klingman & Associates LLC's portfolio, making the stock its 23rd biggest holding. Klingman & Associates LLC owned 0.11% of Citizens Financial Group worth $27,399,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CFG. NewEdge Advisors LLC lifted its holdings in shares of Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock worth $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock worth $362,000 after acquiring an additional 554 shares during the last quarter. Woodline Partners LP grew its stake in shares of Citizens Financial Group by 39.5% in the first quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock worth $1,513,000 after acquiring an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC increased its position in Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank's stock worth $439,000 after acquiring an additional 4,739 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Citizens Financial Group by 5.2% during the second quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank's stock worth $2,934,000 after acquiring an additional 3,225 shares during the period. Institutional investors and hedge funds own 94.90% of the company's stock.

Analyst Ratings Changes

CFG has been the topic of several research analyst reports. Stephens raised their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Friday, July 17th. Citigroup upped their price objective on shares of Citizens Financial Group from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Monday. Truist Financial lifted their target price on Citizens Financial Group from $72.00 to $80.00 and gave the stock a "hold" rating in a research report on Tuesday. Morgan Stanley lifted their target price on Citizens Financial Group from $73.00 to $79.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada upped 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. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.55.

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the business's stock in a transaction 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by company insiders.

Citizens Financial Group Price Performance

NYSE:CFG opened at $71.79 on Friday. The company has a 50-day moving average of $67.26 and a 200-day moving average of $63.99. The company has a market capitalization of $30.36 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.55 and a beta of 0.67. Citizens Financial Group, Inc. has a 52 week low of $45.90 and a 52 week high of $74.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The business had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 5.29 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, July 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 is presently 39.91%.

Citizens Financial Group 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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