Klingman & Associates 13F: Cuts CFG Stake by $12M
Key Points
- Klingman & Associates lowered its investment in Citizens Financial Group, Inc. by 44.3% during the quarter, leaving it with 228,285 shares valued at about $14,555,452.
- Citizens Financial Group shares recently traded around $64.14, putting the stock down about 14.9% from its 52-week high of $75.33.
- Wall Street analysts have set a consensus buy rating for the regional bank with an average target price of $76.61 ahead of its next earnings release.
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Klingman & Associates cut its position in Citizens Financial Group, Inc. (NYSE:CFG) by 44.3% during the quarter, according to a Form 13F filing with the SEC on October 20, 2026. The fund sold 181,627 shares, leaving it with 228,285 shares valued at about $14,555,452 at the end of the period.
CFG
Citizens Financial Group, Inc.
What Changed in Klingman & Associates's Citizens Financial Group, Inc. Position
The firm held 409,912 shares previously before shedding a large portion of its holdings. The remaining stake of 228,285 shares reflects a substantial pullback by the fund during the period covered by the filing, when the stock closed at $64.22 on October 20, 2026.
Other Institutional Activity in Citizens Financial Group, Inc.
Other large investors adjusted their own holdings in the regional lender during recent periods. Ninety One UK reduced its holdings by 1,727,737 shares, ending with 6,123,720 shares worth about $390,448,393. AQR Capital Management, LLC grew its holdings by 286,282 shares, ending with 7,626,834 shares worth about $489,795,288. Nordea Investment Management AB cut its position by 62,978 shares, finishing with 7,260,023 shares valued at roughly $466,238,685.
Citizens Financial Group, Inc. Stock Up 2.2%
Citizens Financial Group, Inc. shares recently traded near $64.14, remaining about 30.9% above their 52-week low of $49.00 and 14.9% below their 52-week high of $75.33. The stock trades below its 50-day moving average of $67.70 and below its 200-day moving average of $65.41. The regional bank carries a market capitalization of roughly $27.05 billion and a trailing P/E ratio of 13.99.
Recent Earnings
The bank reported trailing twelve-month revenue of $8.40 billion alongside earnings of $4.59 per share. Citizens Financial Group, Inc. maintains a net profit margin of 27.0% and a return on equity of 8.9%. Its next earnings report is scheduled for January 15, 2027.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
6 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 2.8%. Revenue beat estimates by 38.6%.
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Profit surprise
Operating income missed by 15 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
6 target raises.
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Earnings quality
Gross margin up 5.5 points. Operating margin up 5.3 points. Positive free cash flow.
Earnings Call Summary
Citizens delivered strong first quarter results with earnings per share of one dollar and thirteen cents, beating expectations. The bank grew net interest margin to three point fourteen percent driven by loan growth and improved deposit costs. Management highlighted record capital markets fees, private bank deposits at sixteen point six billion dollars, and progress on the Reimagine the Bank program which is expected to deliver one hundred million dollars in pretax benefits this year.
Guidance Citizens reaffirmed its full year guidance. The company expects net interest income to grow three to four percent in the second quarter and projects net interest margin to reach three point twenty-two to three point twenty-eight percent by year-end. Management also raised its target return on equity from the mid-teens to sixteen to eighteen percent by end of 2027.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Citizens Financial Group, Inc. pays an annual dividend rate of $2.08 per share, which translates to a dividend yield of 3.24%. The company pays out 39.2% of its earnings as dividends.
Insider Buying and Selling at Citizens Financial Group, Inc.
Company insiders executed notable transactions in recent months. Michelle Moosally sold 6,050 shares on May 12, 2026, at an average price of $62.16 for a total value of $376,068. Chief Executive Officer Saun Bruce W. Van disposed of 129,369 shares on July 24, 2026, at an average price of $72.07 for a total of $9,323,624.
Analysts Set New Price Targets
Wall Street firms updated their outlooks on the stock as filing deadlines approached. On October 19, 2026, Morgan Stanley maintained its Overweight rating while lowering its price target from $89.00 to $87.00. RBC Capital maintained an Outperform rating on October 19, 2026, reducing its target from $79.00 to $74.00. Citigroup maintained a Buy rating on October 20, 2026, dropping its target from $84.00 to $74.00. Truist Securities maintained a Hold rating on October 20, 2026, lowering its target from $77.00 to $70.00. Stephens & Co. maintained an Equal-Weight rating on October 20, 2026, cutting its target from $70.00 to $65.00. Overall, the stock holds a consensus buy rating with a mean price target of $76.61 across 19 analyst opinions.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. operates as a bank holding company based in Providence, Rhode Island, offering retail and commercial banking products to individuals, small businesses, and large institutions. The bank serves its customers through two core segments, Consumer Banking and Commercial Banking, managing operations across multiple states.
Bottom Line
Investors will watch how institutional sentiment evolves ahead of the bank's next earnings report on January 15, 2027. Future SEC filings will show whether other portfolio managers continue to adjust their exposure to the regional lender.
Related Filing Alerts
Source: Klingman & Associates's 13F filing on $CFG (Oct 20, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts