Citizens Financial Group, Inc. $CFG Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 131.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 725,809 shares of the bank’s stock after purchasing an additional 411,853 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Citizens Financial Group were worth $32,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd bought a new stake in Citizens Financial Group during the first quarter valued at $108,864,000. Assetmark Inc. boosted its holdings in shares of Citizens Financial Group by 11,167.0% in the 1st quarter. Assetmark Inc. now owns 1,347,537 shares of the bank’s stock valued at $55,209,000 after buying an additional 1,335,577 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Citizens Financial Group by 19.1% in the 1st quarter. AQR Capital Management LLC now owns 7,366,754 shares of the bank’s stock valued at $294,007,000 after buying an additional 1,180,390 shares during the period. Nordea Investment Management AB grew its position in shares of Citizens Financial Group by 20.7% during the 2nd quarter. Nordea Investment Management AB now owns 6,399,905 shares of the bank’s stock valued at $287,932,000 after buying an additional 1,098,684 shares during the last quarter. Finally, Swedbank AB raised its stake in Citizens Financial Group by 291.5% during the second quarter. Swedbank AB now owns 1,352,458 shares of the bank’s stock worth $60,522,000 after acquiring an additional 1,006,999 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $48.50 to $52.00 in a report on Friday, August 1st. Barclays raised their price target on Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 16th. Stephens restated an “overweight” rating and set a $60.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 16th. Wall Street Zen raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, DA Davidson reiterated a “buy” rating and issued a $59.00 target price on shares of Citizens Financial Group in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $56.57.

Citizens Financial Group Stock Down 1.9%

CFG stock opened at $51.67 on Friday. The firm’s 50-day moving average is $51.81 and its two-hundred day moving average is $47.23. The company has a market capitalization of $22.19 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 0.56 and a beta of 0.82. Citizens Financial Group, Inc. has a 52 week low of $32.60 and a 52 week high of $55.24. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the firm posted $0.79 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th were paid a dividend of $0.46 per share. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, October 29th. Citizens Financial Group’s dividend payout ratio (DPR) is 51.54%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.