1,364,946 Shares in Citizens Financial Group, Inc. $CFG Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the second quarter, Holdings Channel reports. The firm acquired 1,364,946 shares of the bank’s stock, valued at approximately $95,642,000. Citizens Financial Group comprises 0.6% of Freestone Grove Partners LP’s holdings, making the stock its 29th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the business. Elevation Wealth Partners LLC increased its stake in shares of Citizens Financial Group by 319.8% in the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after purchasing an additional 323 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Citizens Financial Group during the 4th quarter valued at approximately $26,000. Cedar Mountain Advisors LLC bought a new position in Citizens Financial Group in the 1st quarter worth approximately $27,000. Keating Financial Advisory Services Inc. bought a new position in Citizens Financial Group in the 2nd quarter worth approximately $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Citizens Financial Group in the 4th quarter valued at approximately $29,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Up 0.9%

CFG opened at $70.48 on Thursday. The firm has a market capitalization of $29.68 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. Citizens Financial Group, Inc. has a one year low of $47.96 and a one year high of $75.33. The company has a fifty day moving average price of $71.34 and a 200-day moving average price of $65.65. 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) last issued its quarterly earnings data 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. The company had revenue of $2.28 billion for 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 firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. Equities research analysts expect that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were paid 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 dividend payout ratio is currently 39.91%.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of analyst reports. Jefferies Financial Group boosted their target price on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Argus set a $80.00 price target on Citizens Financial Group in a report on Wednesday, July 29th. DA Davidson reiterated a “neutral” rating on shares of Citizens Financial Group in a research report on Friday, August 14th. 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. Finally, Robert W. Baird increased their price objective on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.67% of the stock is currently owned by insiders.

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.