120,093 Shares of Citizens Financial Group, Inc. $CFG Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, HoldingsChannel.com reports. The fund acquired 120,093 shares of the bank’s stock, valued at approximately $7,657,000.

Several other institutional investors and hedge funds also recently modified their holdings of CFG. BlackRock Inc. acquired a new stake in shares of Citizens Financial Group in the second quarter valued at about $3,415,046,000. Robeco Institutional Asset Management B.V. lifted its position in Citizens Financial Group by 7,979.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock worth $775,663,000 after acquiring an additional 12,014,785 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Citizens Financial Group by 1,252.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after acquiring an additional 8,523,938 shares in the last quarter. Bank of America Corp DE acquired a new position in Citizens Financial Group during the 2nd quarter worth approximately $223,386,000. Finally, Legal & General Group Plc purchased a new position in Citizens Financial Group in the 2nd quarter worth approximately $207,234,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 2.4%

NYSE:CFG opened at $65.91 on Thursday. Citizens Financial Group, Inc. has a one year low of $49.00 and a one year high of $75.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. The stock has a 50-day simple moving average of $66.14 and a 200 day simple moving average of $65.61.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same period in the prior year, the company posted $1.05 EPS. Sell-side analysts predict that Citizens Financial Group, Inc. will post 5.30 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, October 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s payout ratio is currently 41.85%.

Analyst Ratings Changes

CFG has been the subject of several recent research reports. Cantor Fitzgerald lowered their price objective on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a research report on Friday, October 30th. Raymond James Financial decreased their target price on shares of Citizens Financial Group from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. UBS Group lowered their price target on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Robert W. Baird lifted their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.79.

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.