Perigon Wealth Management LLC Purchases New Holdings in Citizens Financial Group, Inc. $CFG

Perigon Wealth Management LLC acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 8,109 shares of the bank’s stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFG. Norges Bank purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $355,909,000. AQR Capital Management LLC boosted its position in shares of Citizens Financial Group by 56.9% in the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock worth $451,075,000 after purchasing an additional 2,799,050 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth approximately $175,948,000. Victory Capital Management Inc. grew its stake in shares of Citizens Financial Group by 89.4% in the 4th quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank’s stock worth $276,372,000 after buying an additional 2,232,806 shares during the last quarter. Finally, Amundi increased its position in Citizens Financial Group by 136.4% during the 4th quarter. Amundi now owns 3,513,388 shares of the bank’s stock valued at $205,217,000 after buying an additional 2,027,255 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CFG. Truist Financial lifted their price objective on Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Evercore reissued an “outperform” rating and issued a $80.00 target price on shares of Citizens Financial Group in a research note on Monday, July 6th. JPMorgan Chase & Co. raised their price target on Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. DA Davidson reaffirmed a “neutral” rating on shares of Citizens Financial Group in a research report on Friday, August 14th. Finally, Stephens upped their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Citizens Financial Group Trading Down 3.7%

Citizens Financial Group stock opened at $70.75 on Thursday. Citizens Financial Group, Inc. has a 52-week low of $47.96 and a 52-week high of $75.33. The company has a market cap of $29.80 billion, a P/E ratio of 15.35, a P/E/G ratio of 0.56 and a beta of 0.67. 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 business has a 50-day simple moving average of $71.04 and a two-hundred day simple moving average of $65.48.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. The firm 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%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 EPS. Analysts predict that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

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 $0.46 dividend. The ex-dividend date was Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 39.91%.

Insider Buying and Selling at Citizens Financial Group

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

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.