Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Healthcare of Ontario Pension Plan Trust Fund dramatically increased its stake in Citizens Financial Group, boosting holdings by 2,798.5% in the fourth quarter to 494,979 shares worth about $28.9 million.
• Citizens Financial Group recently posted better-than-expected quarterly results, with EPS of $1.13 versus the $1.10 estimate and revenue of $2.17 billion, while revenue rose 12% year over year.
• The bank also paid a quarterly dividend of $0.46 per share, and analysts remain generally positive, with a consensus rating of Moderate Buy and a target price of $70.88.

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 2,798.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 494,979 shares of the bank's stock after buying an additional 477,902 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.12% of Citizens Financial Group worth $28,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Activest Wealth Management boosted its position in shares of Citizens Financial Group by 5,600.0% during the fourth 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. Fortitude Family Office LLC boosted its position in shares of Citizens Financial Group by 632.0% during the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock worth $41,000 after buying an additional 613 shares during the period. Elyxium Wealth LLC purchased a new position in shares of Citizens Financial Group during the fourth quarter worth $50,000. State of Wyoming purchased a new position in shares of Citizens Financial Group during the second quarter worth $39,000. Finally, Quest 10 Wealth Builders Inc. boosted its position in shares of Citizens Financial Group by 261.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 893 shares of the bank's stock worth $52,000 after buying an additional 646 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $66.69 on Tuesday. The stock's 50-day moving average is $63.66 and its two-hundred day moving average is $61.48. The firm has a market cap of $28.20 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.54 and a beta of 0.68. Citizens Financial Group, Inc. has a 1 year low of $40.25 and a 1 year high of $68.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 earnings per share. Analysts predict that Citizens Financial Group, Inc. will post 5.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.8%. Citizens Financial Group's dividend payout ratio (DPR) is currently 43.50%.

Insider Activity

In related news, insider Michelle Moosally sold 6,050 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider owned 22,565 shares of the company's stock, valued at $1,402,640.40. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Evercore reiterated an "outperform" rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Weiss Ratings upgraded Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Robert W. Baird upgraded Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 price objective on the stock in a research note on Monday, March 9th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Citizens Financial Group in a research note on Tuesday, June 9th. Finally, Morgan Stanley dropped their target price on Citizens Financial Group from $80.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of "Moderate Buy" and a consensus target price of $70.88.

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.

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