Artemis Investment Management LLP Has $142.99 Million Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Artemis Investment Management increased its stake in Citizens Financial Group by 160.4% in Q4 and now holds 2,448,050 shares valued at about $142.99 million, making CFG its 10th-largest position and representing roughly 0.57% of the company.
• Citizens beat Q results with $1.13 EPS vs. a $1.10 estimate and revenue of $2.17 billion (up 12% YoY), and announced a quarterly dividend of $0.46 (annualized $1.84) for a ~2.9% yield and a 43.5% payout ratio.
• Analysts are broadly positive—19 Buy ratings and 1 Hold—giving a consensus price target of $70.88, versus the recent share price around $64.45.

Artemis Investment Management LLP lifted its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 160.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,448,050 shares of the bank's stock after acquiring an additional 1,508,070 shares during the period. Citizens Financial Group accounts for approximately 1.7% of Artemis Investment Management LLP's holdings, making the stock its 10th biggest position. Artemis Investment Management LLP owned approximately 0.57% of Citizens Financial Group worth $142,991,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Investment Counsel LLC acquired a new position in shares of Citizens Financial Group during the 4th quarter worth $3,817,000. One Wealth Advisors LLC boosted its holdings in shares of Citizens Financial Group by 19.7% during the 4th quarter. One Wealth Advisors LLC now owns 7,934 shares of the bank's stock worth $463,000 after buying an additional 1,307 shares during the period. Danske Bank A S boosted its holdings in shares of Citizens Financial Group by 13.0% during the 4th quarter. Danske Bank A S now owns 298,883 shares of the bank's stock worth $17,458,000 after buying an additional 34,500 shares during the period. GenTrust LLC bought a new stake in shares of Citizens Financial Group during the 4th quarter worth $241,000. Finally, Activest Wealth Management boosted its holdings 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 during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 0.9%

Shares of Citizens Financial Group stock opened at $64.45 on Friday. The stock has a market capitalization of $27.39 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 0.52 and a beta of 0.70. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $61.26 and a 200 day simple moving average of $58.83. Citizens Financial Group, Inc. has a 12-month low of $37.88 and a 12-month high of $68.79.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.03. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.77 EPS. Research analysts expect that Citizens Financial Group, Inc. will post 5.19 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.9%. Citizens Financial Group's dividend payout ratio (DPR) is 43.50%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $73.00 price objective on shares of Citizens Financial Group in a report on Tuesday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Citigroup upped their price objective on shares of Citizens Financial Group from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 26th. Raymond James Financial downgraded shares of Citizens Financial Group from a "strong-buy" rating to an "outperform" rating and upped their price objective for the stock from $62.00 to $66.00 in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Citizens Financial Group from $68.00 to $68.50 and gave the stock an "overweight" rating in a report on Thursday. Nineteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.88.

Insider Activity

In related news, insider Susan Lamonica sold 13,258 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at $9,632,956.84. This trade represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.67% of the stock is owned by company insiders.

Citizens Financial Group Profile

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.

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