Principal Financial Group Inc. Has $6.58 Million Stock Position in CoreCivic, Inc. (NYSE:CXW)

Principal Financial Group Inc. reduced its holdings in CoreCivic, Inc. (NYSE:CXW) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 519,795 shares of the real estate investment trust’s stock after selling 28,864 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of CoreCivic worth $6,575,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Lee Danner & Bass Inc. acquired a new stake in CoreCivic in the second quarter worth $6,818,000. SG Americas Securities LLC grew its position in CoreCivic by 1,740.4% in the third quarter. SG Americas Securities LLC now owns 295,131 shares of the real estate investment trust’s stock valued at $3,733,000 after purchasing an additional 279,095 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of CoreCivic by 85.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock valued at $5,204,000 after acquiring an additional 185,075 shares in the last quarter. Marshall Wace LLP increased its position in shares of CoreCivic by 102.2% during the 2nd quarter. Marshall Wace LLP now owns 213,880 shares of the real estate investment trust’s stock worth $2,776,000 after purchasing an additional 108,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of CoreCivic during the 2nd quarter worth about $1,115,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

CoreCivic Trading Up 4.1 %

Shares of CXW opened at $22.00 on Wednesday. CoreCivic, Inc. has a 52-week low of $10.74 and a 52-week high of $24.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.51 and a current ratio of 1.51. The business’s fifty day moving average is $14.90 and its 200-day moving average is $14.16. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 32.84 and a beta of 0.86.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CXW. Northland Securities increased their price target on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Wedbush reiterated a “neutral” rating and issued a $14.00 price target on shares of CoreCivic in a research note on Friday, September 13th.

Insider Activity

In other news, CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $24.20, for a total transaction of $1,210,000.00. Following the completion of the transaction, the chief financial officer now directly owns 276,528 shares in the company, valued at $6,691,977.60. This trade represents a 15.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David K. Churchill sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $13.61, for a total transaction of $204,150.00. Following the transaction, the insider now owns 214,056 shares of the company’s stock, valued at approximately $2,913,302.16. The trade was a 6.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,000 shares of company stock worth $2,094,790. Corporate insiders own 2.21% of the company’s stock.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.