Mackay Shields LLC increased its position in shares of The GEO Group Inc (NYSE:GEO) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,372 shares of the real estate investment trust’s stock after acquiring an additional 19,000 shares during the period. Mackay Shields LLC owned about 0.20% of The GEO Group worth $4,168,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in The GEO Group by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 18,119,158 shares of the real estate investment trust’s stock worth $380,683,000 after acquiring an additional 386,641 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in The GEO Group by 8.6% during the 2nd 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 purchasing an additional 683,323 shares during the period. Artemis Investment Management LLP increased its holdings in The GEO Group by 17.2% during the 2nd quarter. Artemis Investment Management LLP now owns 5,170,002 shares of the real estate investment trust’s stock worth $108,280,000 after purchasing an additional 757,583 shares during the period. Prudential Financial Inc. increased its holdings in The GEO Group by 15.1% during the 2nd quarter. Prudential Financial Inc. now owns 4,351,352 shares of the real estate investment trust’s stock worth $91,422,000 after purchasing an additional 570,734 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in The GEO Group by 11.3% during the 2nd 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 purchasing an additional 358,844 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.
In other The GEO Group news, Director Anne N. Foreman sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $17.24, for a total transaction of $137,920.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian Evans sold 3,468 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $17.45, for a total value of $60,516.60. Following the sale, the chief financial officer now owns 90,710 shares in the company, valued at approximately $1,582,889.50. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
Several brokerages have weighed in on GEO. TheStreet downgraded The GEO Group from a “b-” rating to a “c+” rating in a report on Thursday, July 25th. ValuEngine upgraded The GEO Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The GEO Group has an average rating of “Buy” and a consensus price target of $25.00.
NYSE GEO traded up $0.17 during trading hours on Friday, hitting $15.17. 682,525 shares of the company were exchanged, compared to its average volume of 814,575. The company has a 50 day moving average of $16.00 and a two-hundred day moving average of $18.74. The company has a quick ratio of 1.30, a current ratio of 1.27 and a debt-to-equity ratio of 2.75. The GEO Group Inc has a 52-week low of $14.68 and a 52-week high of $24.03. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 6.14 and a beta of 1.10.
The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 25th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.92 annualized dividend and a yield of 12.66%. The GEO Group’s dividend payout ratio (DPR) is 77.73%.
The GEO Group 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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