The Manufacturers Life Insurance Company Reduces Stock Holdings in Zillow Group, Inc. (NASDAQ:Z)

The Manufacturers Life Insurance Company reduced its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,903 shares of the financial services provider’s stock after selling 661 shares during the period. The Manufacturers Life Insurance Company’s holdings in Zillow Group were worth $1,341,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 21,313,573 shares of the financial services provider’s stock worth $1,039,676,000 after buying an additional 176,449 shares during the period. Capital World Investors raised its stake in Zillow Group by 2.8% in the first quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider’s stock valued at $431,519,000 after buying an additional 238,554 shares during the last quarter. Dorsal Capital Management LP raised its stake in shares of Zillow Group by 59.8% in the second quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock worth $143,809,000 after purchasing an additional 1,160,000 shares during the last quarter. Greencape Capital Pty Ltd raised its stake in shares of Zillow Group by 93.0% in the first quarter. Greencape Capital Pty Ltd now owns 1,632,790 shares of the financial services provider’s stock worth $79,647,000 after purchasing an additional 786,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Zillow Group by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider’s stock worth $66,032,000 after purchasing an additional 139,489 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Insider Activity

In other news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares in the company, valued at $29,583.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zillow Group news, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total value of $39,953.76. Following the completion of the transaction, the general counsel now directly owns 35,259 shares in the company, valued at $1,873,310.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now owns 582 shares of the company’s stock, valued at approximately $29,583.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock worth $11,780,363 over the last ninety days. Corporate insiders own 23.76% of the company’s stock.

Analyst Upgrades and Downgrades

Z has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, UBS Group upgraded Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.20.

Zillow Group Price Performance

Z stock opened at $62.75 on Friday. Zillow Group, Inc. has a 52-week low of $33.80 and a 52-week high of $68.73. The stock’s fifty day simple moving average is $57.68 and its 200-day simple moving average is $49.70. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of -102.87 and a beta of 1.95.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.13. The business had revenue of $572.00 million for the quarter, compared to analyst estimates of $539.74 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. Equities research analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current year.

Zillow Group Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.