Fifth Third Bancorp Grows Stock Position in CoStar Group, Inc. $CSGP

Fifth Third Bancorp lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 19.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,029 shares of the technology company’s stock after buying an additional 1,961 shares during the period. Fifth Third Bancorp’s holdings in CoStar Group were worth $967,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of CoStar Group in the first quarter worth about $29,000. Bayforest Capital Ltd bought a new stake in shares of CoStar Group in the first quarter worth about $29,000. Zions Bancorporation National Association UT bought a new stake in shares of CoStar Group in the first quarter worth about $31,000. GKV Capital Management Co. Inc. bought a new stake in shares of CoStar Group in the first quarter worth about $31,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company’s stock worth $32,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Frederick G. Saint sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $90.33, for a total value of $2,258,250.00. Following the sale, the insider directly owned 293,103 shares of the company’s stock, valued at $26,475,993.99. The trade was a 7.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the transaction, the chief accounting officer owned 25,771 shares of the company’s stock, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,033 shares of company stock worth $4,777,764. Insiders own 1.09% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CSGP. Robert W. Baird raised their target price on CoStar Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. BMO Capital Markets raised their target price on CoStar Group from $82.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 target price (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on CoStar Group from $87.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.15.

CoStar Group Stock Performance

Shares of CSGP opened at $83.99 on Monday. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average price is $89.73 and its 200-day moving average price is $82.70. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.43. The stock has a market cap of $35.58 billion, a P/E ratio of 335.96, a P/E/G ratio of 3.87 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The firm had revenue of $781.30 million for the quarter, compared to analysts’ expectations of $772.06 million. During the same period in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. CoStar Group has set its FY 2025 guidance at 0.780-0.800 EPS. Q3 2025 guidance at 0.150-0.17 EPS. Equities research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.