NewEdge Advisors LLC Has $11.28 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• NewEdge Advisors increased its Citizens Financial Group stake by 43.6% in the second quarter, ending with 160,994 shares valued at approximately $11.28 million. Institutional investors collectively own 94.9% of CFG.
• Citizens Financial Group reported quarterly earnings of $1.30 per share, beating estimates by $0.05, while revenue rose 12.1% year over year to $2.28 billion.
• The bank maintains a quarterly dividend of $0.46 per share, equal to a 2.6% annualized yield. Analysts give CFG a “Moderate Buy” consensus rating with an average price target of $79.80.

NewEdge Advisors LLC lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 43.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,994 shares of the bank's stock after purchasing an additional 48,906 shares during the quarter. NewEdge Advisors LLC's holdings in Citizens Financial Group were worth $11,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CFG. Empowered Funds LLC grew its stake in Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock valued at $362,000 after acquiring an additional 554 shares during the period. Woodline Partners LP lifted its holdings in shares of Citizens Financial Group by 39.5% during the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock valued at $1,513,000 after purchasing an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Citizens Financial Group by 93.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank's stock valued at $439,000 after purchasing an additional 4,739 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Citizens Financial Group by 5.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank's stock valued at $2,934,000 after purchasing an additional 3,225 shares during the period. Finally, AXA S.A. increased its stake in Citizens Financial Group by 11.5% during the 2nd quarter. AXA S.A. now owns 54,154 shares of the bank's stock worth $2,423,000 after purchasing an additional 5,564 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Citizens Financial Group Trading Up 1.2%

CFG stock opened at $70.47 on Friday. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33. The stock has a market cap of $29.68 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.63 and a beta of 0.66. The company has a fifty day moving average price of $71.41 and a two-hundred day moving average price of $65.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. The company had revenue of $2.28 billion for 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 in the prior year, the firm earned $0.92 earnings per share. Equities analysts anticipate that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

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

Insider Activity at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer owned 1,140,763 shares of the company's stock, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.67% of the company's stock.

Analyst Ratings Changes

CFG has been the subject of a number of research reports. Barclays increased their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Robert W. Baird upped their price target on Citizens Financial Group from $72.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, July 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Stephens lifted their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an "equal weight" rating in a report on Friday, July 17th. Finally, Cantor Fitzgerald lifted their price objective on shares of Citizens Financial Group from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.80.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Through its primary subsidiary, Citizens Bank, the company provides retail and commercial banking services to individuals, businesses, institutions and government entities.

Its offerings include checking and savings accounts, consumer and residential lending, credit cards, business loans, commercial real estate financing, treasury management, investment banking, capital markets services and wealth management.

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