Milford Funds Ltd. Purchases New Position in Citizens Financial Group, Inc. $CFG

Milford Funds Ltd. purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 235,000 shares of the bank’s stock, valued at approximately $13,726,000.

Other large investors have also added to or reduced their stakes in the company. Activest Wealth Management lifted its position in shares of Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after buying an additional 504 shares in the last quarter. State of Wyoming bought a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $39,000. Kestra Investment Management LLC lifted its position in shares of Citizens Financial Group by 2,703.0% during the 2nd quarter. Kestra Investment Management LLC now owns 925 shares of the bank’s stock worth $41,000 after buying an additional 892 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Citizens Financial Group by 632.0% during the 4th quarter. Fortitude Family Office LLC now owns 710 shares of the bank’s stock worth $41,000 after buying an additional 613 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $50,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $67.54 on Friday. The stock has a fifty day simple moving average of $63.54 and a two-hundred day simple moving average of $61.33. Citizens Financial Group, Inc. has a 1-year low of $40.17 and a 1-year high of $68.79. The firm has a market cap of $28.56 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 0.53 and a beta of 0.68. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company earned $0.77 earnings per share. Citizens Financial Group’s revenue was up 12.0% compared to the same quarter last year. Analysts anticipate that Citizens Financial Group, Inc. will post 5.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.7%. Citizens Financial Group’s payout ratio is presently 43.50%.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the sale, the insider owned 22,565 shares of the company’s stock, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CFG shares. Royal Bank Of Canada raised their price target on shares of Citizens Financial Group from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Evercore reissued an “outperform” rating and set a $75.00 price objective on shares of Citizens Financial Group in a report on Tuesday, April 21st. Weiss Ratings raised Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their price objective on Citizens Financial Group from $68.00 to $68.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Robert W. Baird raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Monday, March 9th. Nineteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average price target of $70.88.

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.