Mackenzie Financial Corp Has $3.50 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Mackenzie Financial Corp increased its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 29.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,230 shares of the bank's stock after purchasing an additional 22,402 shares during the quarter. Mackenzie Financial Corp's holdings in Citizens Financial Group were worth $3,503,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CFG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Citizens Financial Group by 35.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank's stock worth $2,838,000 after purchasing an additional 20,649 shares during the period. Canada Pension Plan Investment Board lifted its stake in Citizens Financial Group by 101.6% in the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank's stock valued at $27,641,000 after buying an additional 383,947 shares during the last quarter. Duality Advisers LP acquired a new position in shares of Citizens Financial Group during the first quarter valued at $1,180,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Citizens Financial Group during the fourth quarter worth about $5,965,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Citizens Financial Group during the first quarter worth about $930,000. Institutional investors and hedge funds own 94.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CFG shares. Keefe, Bruyette & Woods boosted their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a "market perform" rating in a research note on Monday. Raymond James began coverage on Citizens Financial Group in a research report on Thursday, July 11th. They set a "market perform" rating for the company. Evercore ISI lowered their target price on Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating on the stock in a research report on Wednesday. DA Davidson boosted their price target on Citizens Financial Group from $41.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. Finally, Jefferies Financial Group increased their price target on Citizens Financial Group from $36.00 to $37.00 and gave the stock a "hold" rating in a research note on Wednesday, July 3rd. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $43.07.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares of the company's stock, valued at $1,454,401.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company's stock.

Citizens Financial Group Price Performance

NYSE:CFG traded up $0.14 during trading hours on Wednesday, reaching $40.06. 4,139,334 shares of the company's stock were exchanged, compared to its average volume of 5,392,250. The company has a market capitalization of $18.23 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $43.96. The business's 50-day simple moving average is $41.12 and its two-hundred day simple moving average is $37.49. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 4.19%. Citizens Financial Group's payout ratio is presently 60.87%.

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.