Perigon Wealth Management LLC Purchases Shares of 8,109 Citizens Financial Group, Inc. $CFG

Perigon Wealth Management LLC purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,109 shares of the bank’s stock, valued at approximately $568,000.

A number of other hedge funds have also recently made changes to their positions in CFG. Geode Capital Management LLC grew its stake in shares of Citizens Financial Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after buying an additional 32,264 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Citizens Financial Group by 45.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock valued at $15,799,000 after acquiring an additional 85,052 shares during the last quarter. Todd Asset Management LLC lifted its stake in shares of Citizens Financial Group by 10.6% in the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock valued at $57,914,000 after acquiring an additional 94,774 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Citizens Financial Group by 51.8% during the 4th quarter. HighTower Advisors LLC now owns 58,648 shares of the bank’s stock valued at $3,426,000 after acquiring an additional 20,008 shares during the period. Finally, Systematic Financial Management LP boosted its holdings in Citizens Financial Group by 20.7% during the 4th quarter. Systematic Financial Management LP now owns 100,617 shares of the bank’s stock valued at $5,877,000 after acquiring an additional 17,225 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Saun Bruce Van sold 129,369 shares of the 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CFG. JPMorgan Chase & Co. lifted their price target on Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Argus set a $80.00 price objective on Citizens Financial Group in a research note on Wednesday, July 29th. Jefferies Financial Group raised their target price on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Truist Financial lifted their target price on shares of Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley lifted their target price on shares of Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $79.25.

Citizens Financial Group Trading Down 3.7%

NYSE:CFG opened at $70.75 on Thursday. The company has a 50-day moving average price of $71.04 and a 200-day moving average price of $65.48. The stock has a market cap of $29.80 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 0.56 and a beta of 0.67. 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 12 month low of $47.96 and a 12 month high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. Citizens Financial Group’s revenue was up 12.1% on a year-over-year basis. Equities analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a dividend of $0.46 per share. The ex-dividend date was 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 39.91%.

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.