Mitsubishi UFJ Asset Management Co. Ltd. Buys 28,370 Shares of Citizens Financial Group, Inc. $CFG

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 902,562 shares of the bank’s stock after acquiring an additional 28,370 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Citizens Financial Group were worth $53,603,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. AA Financial Advisors LLC raised its position in shares of Citizens Financial Group by 3.9% during the fourth quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock worth $272,000 after purchasing an additional 174 shares during the period. Inscription Capital LLC raised its position in shares of Citizens Financial Group by 1.6% during the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after purchasing an additional 175 shares during the period. Grove Bank & Trust raised its position in shares of Citizens Financial Group by 19.8% during the fourth quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock worth $65,000 after purchasing an additional 183 shares during the period. CRA Financial Services LLC raised its position in shares of Citizens Financial Group by 4.6% during the fourth quarter. CRA Financial Services LLC now owns 4,477 shares of the bank’s stock worth $262,000 after purchasing an additional 195 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in shares of Citizens Financial Group by 2.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 10,040 shares of the bank’s stock worth $586,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.8%

NYSE:CFG opened at $63.70 on Friday. The firm has a market capitalization of $26.94 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.51 and a beta of 0.70. Citizens Financial Group, Inc. has a twelve month low of $38.80 and a twelve month high of $68.79. The stock’s 50 day moving average price is $61.35 and its two-hundred day moving average price is $59.25. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. Equities research analysts expect that Citizens Financial Group, Inc. will post 5.19 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, April 30th. Citizens Financial Group’s payout ratio is currently 43.50%.

Insider Activity at Citizens Financial Group

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 stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the transaction, the insider directly owned 165,971 shares in the company, valued at approximately $9,632,956.84. The trade was a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

CFG has been the topic of a number of research analyst reports. Truist Financial raised their price target on Citizens Financial Group from $63.00 to $69.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. raised their price target on Citizens Financial Group from $68.00 to $68.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. DA Davidson raised their price target on Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Robert W. Baird raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Monday, March 9th. Finally, Bank of America lifted their target price on Citizens Financial Group from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Nineteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.88.

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.