Allianz SE Invests $449,000 in Bunge Global SA $BG

Allianz SE acquired a new stake in shares of Bunge Global SA (NYSE:BG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,589 shares of the basic materials company’s stock, valued at approximately $449,000.

A number of other institutional investors have also bought and sold shares of the business. Callan Family Office LLC acquired a new position in Bunge Global during the second quarter worth $705,000. AE Wealth Management LLC raised its holdings in shares of Bunge Global by 1,596.3% during the 2nd quarter. AE Wealth Management LLC now owns 163,944 shares of the basic materials company’s stock worth $13,162,000 after acquiring an additional 154,279 shares during the period. Monaco Asset Management SAM boosted its position in shares of Bunge Global by 542.9% during the 2nd quarter. Monaco Asset Management SAM now owns 20,000 shares of the basic materials company’s stock valued at $1,606,000 after acquiring an additional 16,889 shares during the last quarter. Centennial Wealth Advisory LLC acquired a new position in shares of Bunge Global during the 2nd quarter valued at about $449,000. Finally, Atria Investments Inc purchased a new stake in shares of Bunge Global in the second quarter valued at about $410,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. CICC Research lifted their target price on shares of Bunge Global from $90.00 to $110.00 in a research note on Friday, November 7th. BMO Capital Markets raised their price target on shares of Bunge Global from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Zacks Research raised shares of Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Barclays upgraded Bunge Global from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $105.00 to $120.00 in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on Bunge Global from $107.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and an average target price of $102.88.

Insider Activity

In other Bunge Global news, Director Christopher Mahoney acquired 5,000 shares of the stock in a transaction dated Monday, August 18th. The stock was acquired at an average price of $81.73 per share, with a total value of $408,650.00. Following the completion of the purchase, the director owned 7,164 shares in the company, valued at $585,513.72. This trade represents a 231.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.80% of the company’s stock.

Bunge Global Trading Up 0.6%

Shares of NYSE BG opened at $96.88 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $18.73 billion, a PE ratio of 9.68, a PEG ratio of 8.28 and a beta of 0.76. Bunge Global SA has a twelve month low of $67.40 and a twelve month high of $99.55. The stock has a fifty day simple moving average of $87.85 and a 200-day simple moving average of $82.55.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.04. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $22.46 billion. During the same quarter in the prior year, the company earned $2.29 EPS. Bunge Global’s revenue was up 71.6% on a year-over-year basis. On average, equities analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.