The Manufacturers Life Insurance Company Takes $1.89 Million Position in Geo Group Inc (The) $GEO

The Manufacturers Life Insurance Company acquired a new position in Geo Group Inc (The) (NYSE:GEO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 64,050 shares of the real estate investment trust’s stock, valued at approximately $1,893,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its holdings in shares of Geo Group by 245.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,101 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 782 shares during the period. Bessemer Group Inc. raised its holdings in Geo Group by 111.9% in the 1st quarter. Bessemer Group Inc. now owns 1,723 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 910 shares during the period. IFP Advisors Inc acquired a new position in Geo Group in the fourth quarter valued at about $30,000. Global Retirement Partners LLC purchased a new position in Geo Group during the second quarter worth about $34,000. Finally, NewEdge Advisors LLC increased its position in shares of Geo Group by 81.9% during the first quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 839 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Insider Buying and Selling at Geo Group

In other Geo Group news, VP Matthew Albence sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $31.69, for a total value of $316,900.00. Following the completion of the sale, the vice president owned 99,399 shares in the company, valued at approximately $3,149,954.31. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ronald A. Brack sold 7,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $32.00, for a total transaction of $224,000.00. Following the completion of the sale, the insider owned 71,614 shares of the company’s stock, valued at approximately $2,291,648. This trade represents a 8.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.98% of the company’s stock.

Geo Group Stock Performance

NYSE:GEO opened at $30.93 on Friday. Geo Group Inc has a 12 month low of $12.51 and a 12 month high of $33.15. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market capitalization of $4.07 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78. The business’s fifty day moving average price is $30.79 and its 200 day moving average price is $23.78.

Geo Group (NYSE:GEO) last issued its earnings results on Thursday, August 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The business had revenue of $732.07 million for the quarter, compared to analyst estimates of $721.43 million. Geo Group had a return on equity of 10.42% and a net margin of 10.31%.The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. On average, sell-side analysts anticipate that Geo Group Inc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GEO has been the subject of several research reports. Wall Street Zen downgraded shares of Geo Group from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Zacks Research upgraded Geo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Geo Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 9th. Noble Financial restated an “outperform” rating on shares of Geo Group in a report on Monday, August 10th. Finally, JonesTrading raised their price target on shares of Geo Group from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $40.00.

Geo Group Profile

The GEO Group (NYSE:GEO) is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO’s integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.

GEO’s portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.