Assetmark Inc. Acquires 111,135 Shares of Citizens Financial Group, Inc. $CFG

Assetmark Inc. raised its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,788,249 shares of the bank’s stock after buying an additional 111,135 shares during the period. Assetmark Inc. owned about 0.42% of Citizens Financial Group worth $107,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in Citizens Financial Group by 5.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank’s stock valued at $29,968,000 after buying an additional 25,180 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Citizens Financial Group during the 4th quarter worth $2,412,000. Geode Capital Management LLC grew its stake in shares of Citizens Financial Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock worth $661,052,000 after acquiring an additional 32,264 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Citizens Financial Group by 45.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock worth $15,799,000 after acquiring an additional 85,052 shares in the last quarter. Finally, Todd Asset Management LLC raised its holdings in shares of Citizens Financial Group by 10.6% in the fourth quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock valued at $57,914,000 after purchasing an additional 94,774 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Citizens Financial Group

Here are the key news stories impacting Citizens Financial Group this week:

• Positive Sentiment: Citizens Financial beat Q2 earnings estimates with EPS of $1.30 versus $1.25 expected, while revenue rose 12.1% year over year and net income climbed 35%, signaling solid operating momentum. Article title
• Positive Sentiment: Management’s raised net interest margin outlook added to optimism, suggesting profitability could improve further in coming quarters. Article title
• Positive Sentiment: Higher net interest income and fee income were key drivers of the profit jump, indicating stronger core banking revenue and healthier business trends. Article title
• Positive Sentiment: Citigroup? No—Cantor Fitzgerald raised its price target on CFG to $80 and reiterated an overweight rating, reinforcing a bullish analyst view after the results. Article title
• Neutral Sentiment: Unusual call option activity ahead of the earnings release suggests traders were positioning for upside, but it does not by itself change the company’s fundamentals.

Insiders Place Their Bets

In related news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $74.28 on Friday. Citizens Financial Group, Inc. has a 12 month low of $45.90 and a 12 month high of $74.70. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $66.25 and its 200 day simple moving average is $63.53. The company has a market cap of $31.41 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 0.59 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last issued its earnings results 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. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 5.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CFG. JPMorgan Chase & Co. raised their price target on shares of Citizens Financial Group from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Stephens initiated coverage on shares of Citizens Financial Group in a research report on Monday, June 15th. They set an “equal weight” rating on the stock. Morgan Stanley boosted their target price on Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Truist Financial lifted their price target on Citizens Financial Group from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on Citizens Financial Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.10.

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.