The Conning Inc. Buys Shares of 10,280 Citizens Financial Group Inc. (CFG)

The Conning Inc. Buys Shares of 10,280 Citizens Financial Group Inc. (CFG)

Conning Inc. bought a new position in Citizens Financial Group Inc. (NYSE:CFG) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 10,280 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also recently made changes to their positions in the company. Mariner Wealth Advisors LLC raised its stake in shares of Citizens Financial Group by 0.5% in the first quarter. Mariner Wealth Advisors LLC now owns 10,377 shares of the company’s stock worth $217,000 after buying an additional 51 shares during the period. DNB Asset Management AS raised its position in shares of Citizens Financial Group by 1.2% in the second quarter. DNB Asset Management AS now owns 73,577 shares of the company’s stock worth $1,470,000 after buying an additional 900 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Citizens Financial Group by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 134,803 shares of the company’s stock worth $2,824,000 after buying an additional 1,299 shares during the period. Capital Analysts LLC raised its position in shares of Citizens Financial Group by 2,002.7% in the second quarter. Capital Analysts LLC now owns 1,535 shares of the company’s stock worth $111,000 after buying an additional 1,462 shares during the period. Finally, Pinnacle Holdings LLC raised its position in shares of Citizens Financial Group by 11.9% in the first quarter. Pinnacle Holdings LLC now owns 18,460 shares of the company’s stock worth $387,000 after buying an additional 1,965 shares during the period. Hedge funds and other institutional investors own 95.72% of the company’s stock.

Citizens Financial Group Inc. (NYSE:CFG) traded down 0.74% during midday trading on Friday, reaching $25.50. 4,944,021 shares of the company traded hands. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 15.10 and a beta of 1.19. The firm has a 50 day moving average of $24.44 and a 200-day moving average of $22.63. Citizens Financial Group Inc. has a 12 month low of $18.04 and a 12 month high of $27.17.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Citizens Financial Group had a net margin of 16.72% and a return on equity of 4.62%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts forecast that Citizens Financial Group Inc. will post $1.85 EPS for the current fiscal year.

A number of equities analysts have weighed in on the stock. Wells Fargo & Co. reiterated a “buy” rating on shares of Citizens Financial Group in a report on Saturday, July 9th. Barclays PLC reiterated a “hold” rating on shares of Citizens Financial Group in a report on Saturday, July 9th. Deutsche Bank AG reiterated a “buy” rating on shares of Citizens Financial Group in a report on Wednesday, June 15th. Citigroup Inc. lifted their price target on shares of Citizens Financial Group from $23.00 to $26.00 in a report on Thursday, September 8th. Finally, Wedbush assumed coverage on shares of Citizens Financial Group in a report on Thursday. They issued an “outperform” rating and a $29.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Citizens Financial Group has a consensus rating of “Buy” and a consensus price target of $27.23.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a retail bank holding company in the United States. The Company offers a range of retail and commercial banking products and services to individuals, institutions and companies. The Company operates in two segments: Consumer Banking and Commercial Banking. The Company’s Consumer Banking serves retail customers and small businesses.

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