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

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 120,093 shares of the bank’s stock, valued at approximately $7,657,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFG. 55 North Private Wealth LLC raised its holdings in shares of Citizens Financial Group by 4.6% in the 3rd quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock valued at $244,000 after buying an additional 170 shares during the period. Cookson Peirce & Co. Inc. boosted its holdings in Citizens Financial Group by 0.3% in the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after purchasing an additional 174 shares in the last quarter. Profund Advisors LLC increased its position in shares of Citizens Financial Group by 3.4% during the third quarter. Profund Advisors LLC now owns 5,263 shares of the bank’s stock worth $336,000 after purchasing an additional 174 shares in the last quarter. Trustmark Bank Trust Department increased its holdings in shares of Citizens Financial Group by 4.9% in the 2nd quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock valued at $300,000 after acquiring an additional 198 shares during the period. Finally, GoalVest Advisory LLC raised its stake in Citizens Financial Group by 29.9% during the 3rd quarter. GoalVest Advisory LLC now owns 883 shares of the bank’s stock valued at $56,000 after acquiring an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Up 2.4%

Shares of NYSE:CFG opened at $65.91 on Thursday. The stock has a 50-day simple moving average of $66.14 and a 200-day simple moving average of $65.61. The stock has a market capitalization of $27.63 billion, a P/E ratio of 13.26, a PEG ratio of 0.59 and a beta of 0.74. Citizens Financial Group, Inc. has a 1 year low of $49.00 and a 1 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.

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

Citizens Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 41.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Stephens dropped their target price on shares of Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th. Morgan Stanley cut their price target on Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Truist Financial cut their price objective on shares of Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. Finally, Royal Bank Of Canada reduced their target price on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, 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.