Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in Citizens Financial Group, Inc. $CFG

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,040,637 shares of the bank’s stock, valued at approximately $72,917,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.25% of Citizens Financial Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC acquired a new position in shares of Citizens Financial Group in the second quarter valued at $377,000. Plato Investment Management Ltd acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $1,997,000. Simplicity Wealth LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $674,000. Trivium Point Advisory LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $1,746,000. Finally, HBK Sorce Advisory LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at about $435,000. 94.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CFG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on Citizens Financial Group from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada increased their target price on Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Truist Financial lifted their price target on Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Argus set a $80.00 price target on Citizens Financial Group in a report on Wednesday, July 29th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.25.

Insiders Place Their Bets

In other news, CEO Saun Bruce Van sold 129,369 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the sale, the chief executive officer directly owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Citizens Financial Group Stock Down 3.7%

Shares of CFG opened at $70.75 on Thursday. Citizens Financial Group, Inc. has a 12 month low of $47.96 and a 12 month high of $75.33. The firm’s 50 day moving average is $71.04 and its 200-day moving average is $65.48. The stock has a market capitalization of $29.80 billion, a PE ratio of 15.35, a P/E/G ratio of 0.56 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. Equities research analysts forecast that Citizens Financial Group, Inc. will post 5.3 EPS for the current year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.6%. Citizens Financial Group’s payout ratio is currently 39.91%.

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.