Kornitzer Capital Management Inc. KS Trims Stock Position in Citizens Financial Group, Inc. $CFG

Kornitzer Capital Management Inc. KS lessened its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 10.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 341,784 shares of the bank’s stock after selling 40,201 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.08% of Citizens Financial Group worth $20,497,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. boosted its position in Citizens Financial Group by 1.7% in the 3rd quarter. Invesco Ltd. now owns 24,064,513 shares of the bank’s stock worth $1,279,270,000 after purchasing an additional 393,158 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Citizens Financial Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after purchasing an additional 32,264 shares in the last quarter. Morgan Stanley increased its holdings in shares of Citizens Financial Group by 2.7% during the 4th quarter. Morgan Stanley now owns 11,217,975 shares of the bank’s stock valued at $655,242,000 after purchasing an additional 298,779 shares in the last quarter. Capital International Investors lifted its stake in shares of Citizens Financial Group by 32.3% in the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock valued at $467,389,000 after purchasing an additional 1,953,372 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Citizens Financial Group by 56.9% in the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock valued at $451,075,000 after purchasing an additional 2,799,050 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the topic of several analyst reports. Truist Financial raised their price target on shares of Citizens Financial Group from $69.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. Weiss Ratings upgraded shares of Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Citizens Financial Group from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Citizens Financial Group in a research report on Tuesday, June 9th. Finally, Evercore restated an “outperform” rating and issued a $80.00 price target on shares of Citizens Financial Group in a research note on Monday. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $74.35.

Insider Transactions at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.

Citizens Financial Group Price Performance

NYSE CFG traded up $0.50 on Friday, hitting $70.36. The company had a trading volume of 3,690,539 shares, compared to its average volume of 4,578,129. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. The company’s fifty day moving average price is $65.71 and its 200-day moving average price is $63.17. The company has a market capitalization of $29.75 billion, a PE ratio of 16.63, a PEG ratio of 0.58 and a beta of 0.67. Citizens Financial Group, Inc. has a 12-month low of $45.90 and a 12-month high of $72.94.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. As a group, analysts predict that Citizens Financial Group, Inc. will post 5.22 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 43.50%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.