Pacer Advisors Inc. Has $1.22 Million Position in Citizens Financial Group, Inc. (NYSE:CFG)

Pacer Advisors Inc. increased its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,751 shares of the bank’s stock after acquiring an additional 1,379 shares during the period. Pacer Advisors Inc.’s holdings in Citizens Financial Group were worth $1,216,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Citizens Financial Group during the 2nd quarter valued at about $25,000. Versant Capital Management Inc boosted its position in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares in the last quarter. Private Ocean LLC boosted its position in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after buying an additional 838 shares in the last quarter. Quarry LP boosted its position in Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after buying an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Citizens Financial Group in the second quarter valued at about $48,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on CFG shares. Stephens boosted their price target on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods boosted their price target on shares of Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Royal Bank of Canada boosted their price target on shares of Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. DA Davidson boosted their target price on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Piper Sandler boosted their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Citizens Financial Group has an average rating of “Hold” and an average target price of $42.20.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the sale, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.62% of the company’s stock.

Citizens Financial Group Trading Up 0.7 %

CFG opened at $40.80 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $18.56 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. The firm has a 50 day simple moving average of $41.18 and a 200 day simple moving average of $37.30. Citizens Financial Group, Inc. has a fifty-two week low of $22.77 and a fifty-two week high of $43.96.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm earned $0.92 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s payout ratio is presently 60.87%.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.