Impax Asset Management Group plc Raises Holdings in Citizens Financial Group, Inc. $CFG

Key Points

• Impax Asset Management increased its stake in Citizens Financial Group (CFG) by 411.6% in Q4, buying 1,391,483 shares to hold 1,729,587 shares worth about $101.0 million (≈0.40% ownership).
• Insider sale: Susan Lamonica sold 13,258 shares on March 11 at an average price of $58.04, reducing her position by 7.4% and leaving her with 165,971 shares.
• Company fundamentals: CFG beat quarterly EPS estimates ($1.13 vs. $1.10), revenue rose 12% year-over-year to $2.17 billion, the board declared a $0.46 quarterly dividend (annual $1.84, ~2.9% yield), and analysts' consensus target is about $70.86 with mostly Buy ratings.

Impax Asset Management Group plc grew its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 411.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,729,587 shares of the bank's stock after purchasing an additional 1,391,483 shares during the quarter. Impax Asset Management Group plc owned approximately 0.40% of Citizens Financial Group worth $101,025,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Concurrent Investment Advisors LLC grew its holdings in shares of Citizens Financial Group by 95.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 9,596 shares of the bank's stock worth $560,000 after purchasing an additional 4,685 shares during the last quarter. Diversified Enterprises LLC purchased a new position in shares of Citizens Financial Group during the fourth quarter worth about $462,000. Chicago Partners Investment Group LLC grew its holdings in shares of Citizens Financial Group by 44.1% during the fourth quarter. Chicago Partners Investment Group LLC now owns 20,409 shares of the bank's stock worth $1,278,000 after purchasing an additional 6,242 shares during the last quarter. Quent Long Short Global Small Cap Fund LP purchased a new position in shares of Citizens Financial Group during the fourth quarter worth about $205,000. Finally, waypoint wealth counsel grew its holdings in shares of Citizens Financial Group by 14.0% during the fourth quarter. waypoint wealth counsel now owns 6,207 shares of the bank's stock worth $363,000 after purchasing an additional 763 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Insider Activity

In other news, insider Susan Lamonica sold 13,258 shares of Citizens Financial Group stock in a transaction that occurred on 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 directly owned 165,971 shares in the company, valued at approximately $9,632,956.84. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.67% of the company's stock.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $63.85 on Friday. 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 market cap of $27.13 billion, a P/E ratio of 15.09, a PEG ratio of 0.52 and a beta of 0.70. Citizens Financial Group, Inc. has a 52 week low of $35.90 and a 52 week high of $68.79. The company has a 50-day moving average price of $61.26 and a 200 day moving average price of $58.46.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.03. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate 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 was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Research analysts predict that Citizens Financial Group, Inc. will post 5.18 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. DA Davidson boosted their price target on Citizens Financial Group from $73.00 to $74.00 and gave the company a "buy" rating in a research report on Monday. Royal Bank Of Canada increased their price objective on Citizens Financial Group from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Raymond James Financial cut Citizens Financial Group from a "strong-buy" rating to an "outperform" rating and increased their price objective for the stock from $62.00 to $66.00 in a research report on Wednesday, January 7th. Evercore reaffirmed an "outperform" rating and set a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $80.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, January 21st. Nineteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Citizens Financial Group has an average rating of "Moderate Buy" and a consensus target price of $70.86.

Citizens Financial Group Company 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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