Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Citizens Financial Group, Inc. $CFG

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Citizens Financial Group, Inc. (NYSE:CFG) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 874,192 shares of the bank’s stock after buying an additional 17,988 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Citizens Financial Group were worth $46,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AlphaCore Capital LLC acquired a new position in Citizens Financial Group in the 3rd quarter valued at about $60,000. Intech Investment Management LLC lifted its position in shares of Citizens Financial Group by 43.9% during the third quarter. Intech Investment Management LLC now owns 82,794 shares of the bank’s stock worth $4,401,000 after purchasing an additional 25,274 shares in the last quarter. US Bancorp DE boosted its stake in shares of Citizens Financial Group by 1.9% in the third quarter. US Bancorp DE now owns 33,254 shares of the bank’s stock valued at $1,768,000 after purchasing an additional 611 shares during the period. Hager Investment Management Services LLC grew its holdings in shares of Citizens Financial Group by 52.5% in the third quarter. Hager Investment Management Services LLC now owns 21,324 shares of the bank’s stock valued at $1,134,000 after purchasing an additional 7,344 shares in the last quarter. Finally, MAI Capital Management grew its holdings in shares of Citizens Financial Group by 71.8% in the third quarter. MAI Capital Management now owns 9,555 shares of the bank’s stock valued at $508,000 after purchasing an additional 3,992 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

Shares of CFG opened at $60.07 on Friday. The company has a market capitalization of $25.53 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.49 and a beta of 0.72. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $68.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $62.54 and a 200 day moving average price of $55.99.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were given a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 3.1%. Citizens Financial Group’s payout ratio is 47.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CFG shares. Evercore raised their price target on shares of Citizens Financial Group from $69.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Raymond James Financial cut Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $62.00 to $66.00 in a research note on Wednesday, January 7th. Barclays set a $77.00 target price on Citizens Financial Group and gave the stock an “overweight” rating in a research note on Monday, January 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 21st. Finally, Bank of America lifted their price objective on Citizens Financial Group from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.77.

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.