Rakuten Investment Management Inc. Acquires Shares of 69,289 Citizens Financial Group, Inc. $CFG

Rakuten Investment Management Inc. acquired a new position in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 69,289 shares of the bank's stock, valued at approximately $4,880,000.

Several other hedge funds have also recently made changes to their positions in CFG. University of Texas Texas AM Investment Management Co. bought a new position in shares of Citizens Financial Group in the 4th quarter valued at about $26,000. Cedar Mountain Advisors LLC bought a new stake in Citizens Financial Group during the first quarter worth approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Citizens Financial Group during the fourth quarter valued at approximately $29,000. Activest Wealth Management raised its position in Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank's stock valued at $30,000 after purchasing an additional 504 shares during the period. Finally, Elevation Wealth Partners LLC lifted its stake in shares of Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock valued at $30,000 after purchasing an additional 323 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $69.76 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The stock's fifty day moving average is $71.46 and its two-hundred day moving average is $65.69. Citizens Financial Group, Inc. has a 52 week low of $47.96 and a 52 week high of $75.33. The company has a market capitalization of $29.38 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. As a group, analysts expect that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CFG. Barclays lifted their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. UBS Group increased their price target on Citizens Financial Group from $75.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Jefferies Financial Group raised their price target on Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Cantor Fitzgerald lifted their price objective on shares of Citizens Financial Group from $80.00 to $84.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Finally, Stephens boosted 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 research report on Friday, July 17th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group presently has an average rating of "Moderate Buy" and a consensus price target of $79.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source