Truist Financial Corp Increases Holdings in The GEO Group, Inc. (NYSE:GEO)

Truist Financial Corp grew its holdings in shares of The GEO Group, Inc. (NYSE:GEO) by 128.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,457 shares of the real estate investment trust’s stock after purchasing an additional 19,903 shares during the quarter. Truist Financial Corp’s holdings in The GEO Group were worth $509,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Arizona State Retirement System increased its position in shares of The GEO Group by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 35,525 shares of the real estate investment trust’s stock valued at $510,000 after purchasing an additional 862 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of The GEO Group by 1.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 100,735 shares of the real estate investment trust’s stock valued at $1,447,000 after purchasing an additional 1,098 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of The GEO Group by 3.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 39,703 shares of the real estate investment trust’s stock valued at $561,000 after purchasing an additional 1,197 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of The GEO Group by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 106,826 shares of the real estate investment trust’s stock valued at $1,508,000 after purchasing an additional 1,402 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of The GEO Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 24,326 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 1,669 shares during the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman George C. Zoley bought 100,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $12.22 per share, for a total transaction of $1,222,000.00. Following the purchase, the chairman now directly owns 3,800,904 shares in the company, valued at $46,447,046.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is owned by corporate insiders.

The GEO Group Trading Up 1.3 %

Shares of GEO opened at $15.18 on Thursday. The business has a 50-day moving average of $13.25 and a 200 day moving average of $14.02. The GEO Group, Inc. has a fifty-two week low of $8.19 and a fifty-two week high of $18.05. The firm has a market cap of $2.12 billion, a P/E ratio of 58.39, a price-to-earnings-growth ratio of 1.63 and a beta of 0.65. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.26.

The GEO Group (NYSE:GEO) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The GEO Group had a return on equity of 8.87% and a net margin of 1.92%. The firm had revenue of $607.19 million during the quarter, compared to analysts’ expectations of $606.16 million. During the same period last year, the business posted $0.24 EPS. As a group, research analysts forecast that The GEO Group, Inc. will post 0.91 EPS for the current year.

Analyst Ratings Changes

GEO has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and issued a $17.00 price objective on shares of The GEO Group in a report on Thursday, September 19th. StockNews.com lowered The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

The GEO Group Company Profile

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.