Citizens Financial Group, Inc. (NYSE:CFG) Stock Holdings Lowered by Mackenzie Financial Corp

Mackenzie Financial Corp cut its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,635 shares of the bank's stock after selling 11,650 shares during the quarter. Mackenzie Financial Corp's holdings in Citizens Financial Group were worth $4,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors grew its holdings in Citizens Financial Group by 3.3% in the fourth quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock valued at $1,570,989,000 after purchasing an additional 1,131,838 shares during the period. Geode Capital Management LLC grew its holdings in Citizens Financial Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank's stock valued at $477,043,000 after purchasing an additional 124,860 shares during the period. Wellington Management Group LLP grew its holdings in Citizens Financial Group by 27.8% in the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock valued at $462,547,000 after purchasing an additional 2,298,040 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Citizens Financial Group by 20.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank's stock valued at $423,733,000 after purchasing an additional 1,672,204 shares during the period. Finally, Royal Bank of Canada grew its holdings in Citizens Financial Group by 6.4% in the fourth quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank's stock valued at $273,378,000 after purchasing an additional 374,850 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Citizens Financial Group in a report on Thursday, May 15th. They issued a "buy" rating and a $57.00 target price for the company. Truist Financial lowered their target price on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada lowered their target price on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. UBS Group boosted their target price on shares of Citizens Financial Group from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $47.89.

Citizens Financial Group Stock Up 0.2%

Shares of NYSE CFG traded up $0.07 during trading on Friday, reaching $40.33. 7,319,253 shares of the stock were exchanged, compared to its average volume of 4,839,346. The business's 50-day moving average price is $38.32 and its 200 day moving average price is $42.86. Citizens Financial Group, Inc. has a twelve month low of $32.60 and a twelve month high of $49.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.81 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a $0.42 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.17%. Citizens Financial Group's dividend payout ratio is presently 53.33%.

About Citizens Financial Group

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.