Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 1,040,637 Citizens Financial Group, Inc. $CFG

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,040,637 shares of the bank’s stock, valued at approximately $72,917,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC increased its stake in Citizens Financial Group by 319.8% in the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after acquiring an additional 323 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Citizens Financial Group during the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC bought a new stake in Citizens Financial Group during the first quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at $29,000. Finally, Activest Wealth Management boosted its holdings in shares of Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after purchasing an additional 504 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the subject of a number of research analyst reports. Robert W. Baird boosted their price target on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Argus set a $80.00 target price on Citizens Financial Group in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods increased their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Royal Bank Of Canada raised their price target on shares of Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Saun Bruce Van sold 129,369 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.67% of the stock is owned by insiders.

Citizens Financial Group Trading Down 3.7%

NYSE CFG opened at $70.75 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a twelve month low of $47.96 and a twelve month high of $75.33. The company has a market cap of $29.80 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. The business’s fifty day moving average is $71.04 and its 200 day moving average is $65.48.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, sell-side analysts expect that Citizens Financial Group, Inc. will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 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.