Mitsubishi UFJ Asset Management Co. Ltd. Has $53.60 Million Position in Citizens Financial Group, Inc. $CFG

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Citizens Financial Group by 3.2% in the fourth quarter, bringing its holdings to 902,562 shares valued at about $53.6 million.
• Citizens Financial Group reported better-than-expected quarterly results, with EPS of $1.13 versus estimates of $1.10 and revenue of $2.17 billion, up 12% year over year.
• The bank also announced a quarterly dividend of $0.46 per share, implying an annualized yield of 2.9%, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $70.88.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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. owned 0.21% of Citizens Financial Group worth $53,603,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management raised its stake in Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank's stock worth $30,000 after acquiring an additional 504 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of Citizens Financial Group by 632.0% in the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank's stock valued at $41,000 after buying an additional 613 shares in the last quarter. State of Wyoming acquired a new stake in shares of Citizens Financial Group in the second quarter valued at $39,000. Quest 10 Wealth Builders Inc. increased its stake in shares of Citizens Financial Group by 261.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 893 shares of the bank's stock valued at $52,000 after buying an additional 646 shares in the last quarter. Finally, Kestra Investment Management LLC increased its stake in shares of Citizens Financial Group by 2,703.0% in the second quarter. Kestra Investment Management LLC now owns 925 shares of the bank's stock valued at $41,000 after buying an additional 892 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $63.70 on Friday. The business's 50-day simple moving average is $61.35 and its 200 day simple moving average is $59.25. The stock has a market cap of $26.94 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 0.51 and a beta of 0.70. Citizens Financial Group, Inc. has a 12-month low of $38.80 and a 12-month 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 0.51.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter last year, the business earned $0.77 earnings per share. The company's revenue was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 5.19 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.46 per share. The ex-dividend date is 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 (DPR) is 43.50%.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the transaction, the insider owned 165,971 shares in the company, valued at approximately $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CFG. Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 target price on shares of Citizens Financial Group in a research note on Tuesday, March 3rd. New Street Research set a $73.00 target price on Citizens Financial Group in a research note on Thursday, January 22nd. TD Cowen raised their target price on Citizens Financial Group from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. Jefferies Financial Group restated a "buy" rating and issued a $80.00 target price on shares of Citizens Financial Group in a research note on Wednesday, January 21st. Finally, Argus raised their target price on Citizens Financial Group from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, January 23rd. Nineteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.88.

Citizens Financial Group Company 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.

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