Comerica Bank lowered its stake in shares of The GEO Group Inc (NYSE:GEO) by 3.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 69,610 shares of the real estate investment trust’s stock after selling 2,659 shares during the period. Comerica Bank owned approximately 0.06% of The GEO Group worth $1,099,000 as of its most recent SEC filing.
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Several other hedge funds and other institutional investors also recently made changes to their positions in GEO. Vanguard Group Inc. increased its holdings in shares of The GEO Group by 2.2% in the second quarter. Vanguard Group Inc. now owns 18,119,158 shares of the real estate investment trust’s stock worth $380,683,000 after purchasing an additional 386,641 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in The GEO Group by 8.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,627,379 shares of the real estate investment trust’s stock worth $181,261,000 after acquiring an additional 683,323 shares in the last quarter. Artemis Investment Management LLP increased its stake in The GEO Group by 17.2% during the second quarter. Artemis Investment Management LLP now owns 5,170,002 shares of the real estate investment trust’s stock worth $108,280,000 after acquiring an additional 757,583 shares during the last quarter. Prudential Financial Inc. lifted its position in The GEO Group by 15.1% in the second quarter. Prudential Financial Inc. now owns 4,351,352 shares of the real estate investment trust’s stock worth $91,422,000 after buying an additional 570,734 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in The GEO Group by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 3,522,985 shares of the real estate investment trust’s stock worth $74,018,000 after buying an additional 358,844 shares during the period. 85.93% of the stock is currently owned by hedge funds and other institutional investors.
NYSE GEO opened at $14.07 on Monday. The firm has a market capitalization of $1.70 billion, a P/E ratio of 5.70 and a beta of 1.10. The GEO Group Inc has a 12-month low of $13.86 and a 12-month high of $24.03. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.75. The firm’s fifty day simple moving average is $15.33 and its two-hundred day simple moving average is $18.41.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 25th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 13.65%. The ex-dividend date was Thursday, October 24th. The GEO Group’s dividend payout ratio is presently 77.73%.
In related news, Director Anne N. Foreman sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $137,920.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.
Separately, ValuEngine raised shares of The GEO Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $25.00.
The GEO Group Company Profile
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom.
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