177,591 Citizens Financial Group, Inc. $CFG Shares Acquired by Mystic Asset Management Inc.

Mystic Asset Management Inc. boosted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 1,949.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,700 shares of the bank’s stock after purchasing an additional 177,591 shares during the period. Citizens Financial Group makes up 2.6% of Mystic Asset Management Inc.’s holdings, making the stock its 7th biggest holding. Mystic Asset Management Inc.’s holdings in Citizens Financial Group were worth $11,904,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Citizens Financial Group in the 2nd quarter valued at approximately $3,415,046,000. Dimensional Fund Advisors LP boosted its stake in shares of Citizens Financial Group by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock valued at $282,927,000 after buying an additional 28,602 shares during the period. Amundi lifted its stake in Citizens Financial Group by 31.2% in the second quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after acquiring an additional 875,666 shares during the last quarter. Bank of America Corp DE purchased a new position in Citizens Financial Group in the second quarter valued at $223,386,000. Finally, Legal & General Group Plc acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $207,234,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG traded up $1.24 during midday trading on Thursday, reaching $63.80. The stock had a trading volume of 1,514,824 shares, compared to its average volume of 4,580,229. The firm has a fifty day simple moving average of $68.40 and a two-hundred day simple moving average of $67.03. Citizens Financial Group, Inc. has a 12-month low of $47.96 and a 12-month high of $75.33. 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 has a market cap of $26.87 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.58 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. Citizens Financial Group’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. On average, equities analysts expect that Citizens Financial Group, Inc. will post 5.29 EPS for the current year.

Insider Transactions at Citizens Financial Group

In related news, CEO Bruce Van Saun sold 129,369 shares of the 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 transaction, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $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 is available at this link. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CFG. Royal Bank Of Canada lifted their target price on Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Jefferies Financial Group upped their target price on Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. UBS Group cut their price target on Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Stephens boosted their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.08.

Citizens Financial Group 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 individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.