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

Mackenzie Financial Corp reduced its position in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 32.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vontobel Holding Ltd. purchased a new stake in Citizens Financial Group during the 4th quarter worth approximately $1,087,000. Capital Advisors Inc. OK acquired a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $3,321,000. Crumly & Associates Inc. acquired a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $203,000. Louisiana State Employees Retirement System acquired a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $935,000. Finally, Lauer Wealth LLC boosted its holdings in shares of Citizens Financial Group by 37.6% during the 4th quarter. Lauer Wealth LLC now owns 12,733 shares of the bank’s stock worth $422,000 after purchasing an additional 3,479 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the sale, the insider now owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Citizens Financial Group Stock Up 1.2 %

Shares of NYSE CFG opened at $34.98 on Wednesday. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 12.67 and a beta of 1.38. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Citizens Financial Group, Inc. has a 52-week low of $22.77 and a 52-week high of $36.38. The business’s 50 day moving average is $33.46 and its two-hundred day moving average is $30.83.

Citizens Financial Group (NYSE:CFG) last announced its 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 net margin of 11.52% and a return on equity of 6.62%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. Research analysts predict that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CFG. Morgan Stanley boosted 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. Jefferies Financial Group boosted 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. UBS Group upped their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, January 18th. TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, Royal Bank of Canada upped their price objective on Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.93.

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.