Russell Investments Group Ltd. Reduces Position in Comp En De Mn Cemig ADS (CIG)
Russell Investments Group Ltd. decreased its stake in Comp En De Mn Cemig ADS (NYSE:CIG) by 35.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446,115 shares of the utilities provider’s stock after selling 248,274 shares during the period. Russell Investments Group Ltd.’s holdings in Comp En De Mn Cemig ADS were worth $1,071,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of CIG. Morgan Stanley lifted its stake in Comp En De Mn Cemig ADS by 205.3% in the 1st quarter. Morgan Stanley now owns 11,884,345 shares of the utilities provider’s stock valued at $39,099,000 after purchasing an additional 7,991,738 shares during the last quarter. Bank of America Corp DE lifted its stake in Comp En De Mn Cemig ADS by 105.2% in the 1st quarter. Bank of America Corp DE now owns 10,859,115 shares of the utilities provider’s stock valued at $35,726,000 after purchasing an additional 5,568,037 shares during the last quarter. Jane Street Group LLC lifted its stake in Comp En De Mn Cemig ADS by 278.5% in the 1st quarter. Jane Street Group LLC now owns 1,002,744 shares of the utilities provider’s stock valued at $3,299,000 after purchasing an additional 737,834 shares during the last quarter. Westpac Banking Corp bought a new position in Comp En De Mn Cemig ADS in the 1st quarter valued at approximately $10,179,000. Finally, Newfoundland Capital Management bought a new position in Comp En De Mn Cemig ADS in the 1st quarter valued at approximately $1,973,000. 2.66% of the stock is owned by institutional investors and hedge funds.
CIG has been the subject of several research reports. Morgan Stanley raised shares of Comp En De Mn Cemig ADS from an “underweight” rating to an “overweight” rating in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) raised shares of Comp En De Mn Cemig ADS from a “sell” rating to a “neutral” rating and increased their price objective for the company from $2.10 to $2.80 in a research note on Friday, July 14th. Finally, BidaskClub upgraded shares of Comp En De Mn Cemig ADS from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $2.80.
Shares of Comp En De Mn Cemig ADS (CIG) traded down 0.71% during trading on Wednesday, reaching $2.81. 1,309,355 shares of the company’s stock traded hands. The company’s 50-day moving average is $2.67 and its 200 day moving average is $2.77. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 19.79 and a beta of 1.92. Comp En De Mn Cemig ADS has a 52-week low of $2.06 and a 52-week high of $3.84.
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Comp En De Mn Cemig ADS Profile
Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.
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