Mackenzie Financial Corp Acquires 22,402 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Mackenzie Financial Corp boosted its holdings in Citizens Financial Group, Inc. (NYSE:CFG) by 29.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,230 shares of the bank’s stock after acquiring 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 quarter.

Several other large investors have also added to or reduced their stakes in CFG. Innealta Capital LLC bought a new position in Citizens Financial Group in the 2nd quarter valued at about $25,000. Versant Capital Management Inc lifted its position in Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares in the last quarter. Private Ocean LLC lifted its position in Citizens Financial Group by 484.4% in the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after acquiring an additional 838 shares in the last quarter. Quarry LP lifted its position in Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after acquiring an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $48,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 2.8 %

Citizens Financial Group stock opened at $39.91 on Wednesday. Citizens Financial Group, Inc. has a 1-year low of $22.77 and a 1-year high of $43.96. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 1.43 and a beta of 1.08. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $41.12 and a 200 day simple moving average of $37.49.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. On average, analysts predict that Citizens Financial Group, Inc. will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI lifted their target price on shares of Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. The Goldman Sachs Group lifted their target price on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley lifted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Jefferies Financial Group lifted their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, DA Davidson raised their price target on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.60.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is currently owned by 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.