Mackenzie Financial Corp Reduces Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Mackenzie Financial Corp lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,348 shares of the bank's stock after selling 28,482 shares during the period. Mackenzie Financial Corp's holdings in Citizens Financial Group were worth $1,934,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC increased its holdings in Citizens Financial Group by 100.8% during the 3rd quarter. Lindbrook Capital LLC now owns 988 shares of the bank's stock valued at $26,000 after purchasing an additional 496 shares during the period. Authentikos Wealth Advisory LLC purchased a new position in Citizens Financial Group during the 3rd quarter valued at about $40,000. CVA Family Office LLC purchased a new position in Citizens Financial Group during the 4th quarter valued at about $40,000. Global Retirement Partners LLC increased its holdings in Citizens Financial Group by 336.3% during the 3rd quarter. Global Retirement Partners LLC now owns 1,693 shares of the bank's stock valued at $43,000 after purchasing an additional 1,305 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Citizens Financial Group by 77.6% during the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank's stock worth $44,000 after acquiring an additional 574 shares during the period. Institutional investors own 94.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley upped their target price on Citizens Financial Group from $31.00 to $39.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 7th. Royal Bank of Canada upped their target price on Citizens Financial Group from $33.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, January 18th. Jefferies Financial Group upped their target price on Citizens Financial Group from $35.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, April 8th. Argus upped their target price on Citizens Financial Group from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Wedbush reduced their target price on Citizens Financial Group from $38.00 to $35.00 and set a "neutral" rating on the stock in a report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Citizens Financial Group has a consensus rating of "Hold" and an average target price of $36.13.

Citizens Financial Group Price Performance

CFG stock traded up $0.55 during trading on Wednesday, reaching $35.52. The company's stock had a trading volume of 4,157,778 shares, compared to its average volume of 5,867,240. Citizens Financial Group, Inc. has a 1 year low of $22.77 and a 1 year high of $36.38. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $16.28 billion, a P/E ratio of 12.87 and a beta of 1.38. The company's fifty day moving average is $33.54 and its 200-day moving average is $30.86.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The company's quarterly revenue was down 7.9% on a year-over-year basis. On average, research analysts expect that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.73%. Citizens Financial Group's payout ratio is presently 60.87%.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 6,327 shares of the firm's stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.62% of the stock is currently owned by company insiders.

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.