Empowered Funds LLC Acquires Shares of 37,918 Citizens Financial Group, Inc. $CFG

Empowered Funds LLC bought a new position in Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 37,918 shares of the bank’s stock, valued at approximately $2,657,000.

Several other institutional investors and hedge funds have also made changes to their positions in CFG. United Capital Financial Advisors LLC acquired a new position in Citizens Financial Group in the second quarter worth $1,684,000. Equitable Holdings Inc. acquired a new stake in shares of Citizens Financial Group during the second quarter worth $624,000. Public Employees Retirement System of Ohio bought a new position in shares of Citizens Financial Group in the 2nd quarter worth about $15,845,000. Proficio Capital Partners LLC bought a new position in shares of Citizens Financial Group in the 2nd quarter worth about $526,000. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $38,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Jefferies Financial Group increased 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. UBS Group boosted their price objective on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their price objective 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Insider Transactions at Citizens Financial Group

In other news, CEO Saun Bruce Van sold 129,369 shares of the stock in a transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $69.74 on Thursday. The firm’s 50 day moving average is $71.46 and its two-hundred day moving average is $65.73. The firm has a market capitalization of $29.37 billion, a P/E ratio of 15.13, a PEG ratio of 0.62 and a beta of 0.66. 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 52 week low of $47.96 and a 52 week high of $75.33.

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 the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Analysts anticipate that Citizens Financial Group, Inc. will post 5.3 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were given a dividend of $0.46 per share. 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 39.91%.

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.