Jeppson Wealth Management LLC Acquires New Stake in Citizens Financial Group, Inc. $CFG

Jeppson Wealth Management LLC acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 38,871 shares of the bank’s stock, valued at approximately $2,478,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new stake in Citizens Financial Group in the first quarter worth $27,000. Elevation Wealth Partners LLC raised 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 valued at $30,000 after buying an additional 323 shares during the period. Virtus Advisers LLC bought a new stake in shares of Citizens Financial Group in the second quarter valued at $35,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Citizens Financial Group during the 2nd quarter valued at $35,000. Finally, Align Financial LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter valued at $35,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Down 1.0%

CFG opened at $62.70 on Tuesday. Citizens Financial Group, Inc. has a 12 month low of $49.00 and a 12 month high of $75.33. The company has a market cap of $26.41 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average of $67.83 and a 200 day moving average of $67.13.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, sell-side analysts expect that Citizens Financial Group, Inc. will post 5.29 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. Citizens Financial Group’s dividend payout ratio is 37.02%.

Insider Activity at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the firm’s 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 directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CFG shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Citizens Financial Group in a research note on Friday. TD Cowen initiated coverage on Citizens Financial Group in a report on Thursday, October 8th. They issued a “buy” rating and a $75.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Finally, Evercore reaffirmed an “outperform” rating and set a $78.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and an average price target of $78.58.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.