Meeder Advisory Services Inc. Makes New $1.65 Million Investment in Citizens Financial Group, Inc. $CFG

Key Points

• Meeder Advisory Services acquired 23,478 shares of Citizens Financial Group worth approximately $1.65 million during the second quarter. Institutional investors collectively own 94.9% of CFG’s outstanding shares.
• Citizens Financial Group reported quarterly EPS of $1.30, surpassing estimates of $1.25, while revenue rose 12.1% year over year to $2.28 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $79.25, above the stock’s reported price of $70.75; the company also pays a quarterly dividend of $0.46, yielding about 2.6%.

Meeder Advisory Services Inc. acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,478 shares of the bank's stock, valued at approximately $1,645,000.

A number of other hedge funds also recently bought and sold shares of the company. Citizens Financial Group Inc. RI bought a new stake in Citizens Financial Group during the second quarter valued at approximately $22,071,000. Buckland Partners Management Co LLC bought a new position in Citizens Financial Group in the second quarter worth approximately $5,045,000. BlackRock Inc. purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth $3,415,046,000. Pallas Capital Advisors LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter valued at $1,391,000. Finally, Deutsche Bank AG purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth $174,108,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Down 3.7%

NYSE CFG opened at $70.75 on Thursday. Citizens Financial Group, Inc. has a 12 month low of $47.96 and a 12 month high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $29.80 billion, a PE ratio of 15.35, a P/E/G ratio of 0.56 and a beta of 0.67. The stock's 50 day moving average is $71.04 and its 200 day moving average is $65.48.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.05. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates 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 revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. Research analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group's payout ratio is currently 39.91%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup raised their price objective on Citizens Financial Group from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Barclays boosted their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Royal Bank Of Canada raised their target price on shares of Citizens Financial Group from $70.00 to $79.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Robert W. Baird lifted their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Finally, UBS Group upped their price target on shares of Citizens Financial Group from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and an average price target of $79.25.

Insider Buying and Selling

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the sale, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is currently owned by insiders.

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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