PNC Financial Services Group Inc. Sells 8,285 Shares of Geo Group Inc (The) (NYSE:GEO)

PNC Financial Services Group Inc. lessened its holdings in Geo Group Inc (The) (NYSE:GEO) by 31.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,085 shares of the real estate investment trust’s stock after selling 8,285 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Geo Group were worth $528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEO. Franklin Resources Inc. acquired a new stake in Geo Group in the fourth quarter valued at $604,000. Wells Fargo & Company MN grew its holdings in Geo Group by 17.2% during the fourth quarter. Wells Fargo & Company MN now owns 106,488 shares of the real estate investment trust’s stock worth $2,980,000 after buying an additional 15,663 shares in the last quarter. Legal & General Group Plc increased its stake in Geo Group by 0.7% in the 4th quarter. Legal & General Group Plc now owns 388,523 shares of the real estate investment trust’s stock valued at $10,871,000 after buying an additional 2,636 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Geo Group during the 4th quarter valued at $7,398,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Geo Group in the 4th quarter worth approximately $2,994,000. 76.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEO. Wall Street Zen raised shares of Geo Group from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Jones Trading dropped their price target on Geo Group from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Finally, Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Geo Group in a research report on Monday, June 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Geo Group Stock Down 0.9%

Shares of NYSE:GEO opened at $20.62 on Thursday. The company has a 50-day moving average price of $24.66 and a 200 day moving average price of $26.80. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 2.26 and a beta of 0.75. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.07. Geo Group Inc has a 12 month low of $11.75 and a 12 month high of $36.46.

Geo Group (NYSE:GEO) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Geo Group had a net margin of 3.69% and a return on equity of 7.26%. The firm had revenue of $636.17 million for the quarter, compared to the consensus estimate of $621.55 million. During the same period last year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Geo Group Inc will post 0.83 earnings per share for the current year.

Geo Group declared that its board has authorized a share buyback program on Wednesday, August 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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.