Mackenzie Financial Corp Decreases Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Mackenzie Financial Corp reduced its position in Citizens Financial Group, Inc. (NYSE:CFG) by 32.8% during the fourth quarter, according to its most recent Form 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.

A number of other hedge funds also recently made changes to their positions in CFG. Lindbrook Capital LLC lifted its position in shares of Citizens Financial Group by 100.8% in the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after buying an additional 496 shares in the last quarter. Authentikos Wealth Advisory LLC bought a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $40,000. CVA Family Office LLC bought a new stake in shares of Citizens Financial Group in the 4th quarter valued at approximately $40,000. Global Retirement Partners LLC lifted its stake in shares of Citizens Financial Group by 336.3% in 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 last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Citizens Financial Group by 77.6% in the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after purchasing an additional 574 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Trading Up 1.2 %

CFG opened at $34.98 on Wednesday. The stock’s fifty day moving average is $33.46 and its two-hundred day moving average is $30.83. The company has a market capitalization of $16.04 billion, a P/E ratio of 12.67 and a beta of 1.38. Citizens Financial Group, Inc. has a 52 week low of $22.77 and a 52 week 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.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. Analysts forecast that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CFG. Barclays lowered Citizens Financial Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, January 2nd. Jefferies Financial Group raised their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price objective on Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. UBS Group increased their price target on Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Evercore ISI increased their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.93.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the 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 approximately $1,265,704.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by company insiders.

Citizens Financial Group 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.