Insiders' Trades of the Week: Citizens Financial

Royal Bank of Scotland sold 110 million shares of the company

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Nov 06, 2015
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The All-In-One Screener can be used to find insider buys and sales over the last week by clicking on the Insiders tab and changing the settings for All Insider Buying/All Insider Selling to “$1,000,000+” and duration to "November 2015."

According to the above filters, the following are the recent buys from company insiders in the past week.

On Nov. 3 three insiders sold shares of CoreSite Realty Corp. (COR, Financial) CRP IV AIV GP, L.L.C., Carlyl Reality III, GP, L.L.C. and Carlyle Group Management L.L.C., 10% owners of the company, sold a total of 12,000,000 shares of CoreSite Realty at the price of $54.56 per share for a total of $654,720,000. Since that sell, the price of the stock has risen by 4.2% to $56.85.

The company has an insider ownership of 4% and an institutional ownership of 92%.

During the last 12 months, the price of the stock has risen by 50% and is now trading with a P/E ratio of 62.99. The price is 2.69% below its 52-week high and 53.11% above its 52-week low.

Thomas Ray, president and CEO of the company, said of the company’s third quarter, “We are pleased with our team's execution in Q3 and optimistic about our market opportunity closing out 2015 and looking ahead to 2016. We believe the growth potential of our business is attractive, and we believe in our ability to continue to execute our business plan. Our focus remains clear: To provide our customers with differentiated high-performance solutions and industry-leading customer service and by so doing continue to deliver strong growth and superior returns for our shareholders.”

Jim Simons (Trades, Portfolio) is the company's leading shareholder among the gurus with a stake of 0.36% of outstanding shares, followed by Manning & Napier Advisors Inc. with 0.33%; during the third quarter the firm reduced its stake by 50.72%

On Nov. 3, Royal Bank of Scotland Group PLCĂ‚ (RBS),Ă‚ a 10% owner of Citizens Financial Group Inc.(CFG), sold 110,461,782 shares of the company at the price of $23.38 per share for $2,582,600,000. Since that trade, the price of the stock has risen by 5.3% to $24.61.

The company has an insider ownership of 0% and an institutional ownership of 65%.

During the last 12 months, the price of the stock has risen by 1% and is now trading with a P/E ratio of 17.18. The price is 14.28% below its 52-week high and 16.41% above its 52-week low.

Bruce Van Saun, chairman and CEO of the company, said, "We're very pleased with our continued ability to drive positive operating leverage in a challenging environment. We're executing well on our strategic initiatives. We're delivering good loan and deposit growth while investing in our fee-based businesses.

"We continue to find efficiencies in our cost base that allow us to self-fund investments that we're making growth, in technology and in risk and compliance."

The company's main shareholder among the gurus is HOTCHKIS & WILLEY with 3.25% of outstanding shares, followed by Chris Davis (Trades, Portfolio) with 2.71% and David Einhorn (Trades, Portfolio) with 2.38% of outstanding shares.

On Nov. 4,Ă‚ Robert C. Kopple, director of Comstock Mining Inc.(LODE), bought 1,948,954 shares of the company at the price of 59 cents per share and a total cost of $1,149,880. Since then, the price of the stock has dropped by 5.1% to 56 cents per share.

The company has an insider ownership of 83% and an institutional ownership of 37%.

During the last 12 months, the price of the stock has dropped by 51% and is now trading with a forward P/E ratio of 21.60. The price is 52.94% below its 52-week high and 60.00% above its 52-week low.

Arnold Van Den Berg (Trades, Portfolio) is the company's main shareholder among the gurus with a stake of 10.94% of outstanding shares followed by Chuck Royce (Trades, Portfolio) with 0.4% and Jim Simons (Trades, Portfolio) with 0.04% of outstanding shares.