Todd Asset Management LLC Buys 94,774 Shares of Citizens Financial Group, Inc. $CFG

Key Points

• Todd Asset Management LLC increased its stake in Citizens Financial Group by 10.6% in the fourth quarter, buying 94,774 shares and bringing its total holdings to 991,510 shares worth about $57.9 million.
• Citizens Financial Group beat quarterly earnings expectations, reporting $1.13 EPS versus $1.10 expected and revenue of $2.17 billion, with revenue up 12% year over year.
• The bank also pays a 2.9% dividend yield after declaring a quarterly dividend of $0.46 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and a target price of $70.88.

Todd Asset Management LLC grew its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 991,510 shares of the bank's stock after purchasing an additional 94,774 shares during the quarter. Citizens Financial Group makes up 1.1% of Todd Asset Management LLC's portfolio, making the stock its 28th biggest position. Todd Asset Management LLC owned 0.23% of Citizens Financial Group worth $57,914,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CFG. NewEdge Advisors LLC raised its holdings in shares of Citizens Financial Group by 2.4% in the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock valued at $472,000 after purchasing an additional 274 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Citizens Financial Group by 6.7% in the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock valued at $362,000 after purchasing an additional 554 shares in the last quarter. Woodline Partners LP grew its position in shares of Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock worth $1,513,000 after buying an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Citizens Financial Group by 93.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank's stock worth $439,000 after buying an additional 4,739 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Citizens Financial Group by 5.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank's stock worth $2,934,000 after buying an additional 3,225 shares during the last quarter. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Stock Up 0.1%

CFG stock opened at $62.93 on Monday. The firm's fifty day simple moving average is $61.76 and its 200-day simple moving average is $60.10. The company has a market capitalization of $26.61 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.50 and a beta of 0.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. Citizens Financial Group, Inc. has a 12 month low of $38.80 and a 12 month high of $68.79.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $2.17 billion for 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 business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. As a group, equities research analysts forecast that Citizens Financial Group, Inc. will post 5.19 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company 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 yield of 2.9%. Citizens Financial Group's dividend payout ratio is 43.50%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CFG shares. Weiss Ratings raised shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Evercore reaffirmed an "outperform" rating and issued a $75.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, April 21st. Citigroup restated a "buy" rating on shares of Citizens Financial Group in a research note on Friday, May 8th. Robert W. Baird upgraded shares of Citizens Financial Group from a "neutral" rating to an "outperform" rating and set a $65.00 price target on the stock in a research note on Monday, March 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, March 3rd. Nineteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.88.

Insiders Place Their Bets

In other news, insider Susan Lamonica sold 13,258 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider directly owned 165,971 shares of the company's stock, valued at approximately $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.67% of the company's stock.

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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