Principal Financial Group Inc. Cuts Stock Position in The GEO Group, Inc. (NYSE:GEO)

Principal Financial Group Inc. decreased its holdings in shares of The GEO Group, Inc. (NYSE:GEO) by 2.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 640,393 shares of the real estate investment trust’s stock after selling 16,203 shares during the period. Principal Financial Group Inc.’s holdings in The GEO Group were worth $8,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GEO. Nisa Investment Advisors LLC lifted its holdings in The GEO Group by 131.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,037,881 shares of the real estate investment trust’s stock valued at $14,904,000 after purchasing an additional 590,099 shares in the last quarter. Center Lake Capital Management LLC raised its position in shares of The GEO Group by 500.0% during the 1st quarter. Center Lake Capital Management LLC now owns 600,000 shares of the real estate investment trust’s stock worth $8,472,000 after purchasing an additional 500,000 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in The GEO Group by 1,803.4% in the 2nd quarter. Great Lakes Advisors LLC now owns 312,508 shares of the real estate investment trust’s stock valued at $4,488,000 after buying an additional 296,090 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in The GEO Group in the 2nd quarter worth about $3,906,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in The GEO Group during the 2nd quarter worth approximately $2,790,000. Institutional investors and hedge funds own 76.10% of the company’s stock.

The GEO Group Stock Performance

Shares of The GEO Group stock opened at $28.40 on Wednesday. The business’s 50 day moving average price is $16.28 and its 200 day moving average price is $14.80. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 97.93, a PEG ratio of 3.22 and a beta of 0.63. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.10. The GEO Group, Inc. has a one year low of $9.34 and a one year high of $28.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wedbush lifted their price target on The GEO Group from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Northland Securities lifted their target price on shares of The GEO Group from $16.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Noble Financial cut shares of The GEO Group from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Finally, StockNews.com lowered shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

About The GEO Group

The GEO Group, Inc (NYSE: GEO) engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. The company also provides secure facility management services, including the provision of security, administrative, rehabilitation, education, and food services; reentry services, such as temporary housing, programming, employment assistance, and other services; electronic monitoring and supervision services; and transportation services; as well as designs, constructs, and finances new facilities through projects.