Principal Financial Group Inc. Sells 28,864 Shares of CoreCivic, Inc. (NYSE:CXW)

Principal Financial Group Inc. lessened its holdings in CoreCivic, Inc. (NYSE:CXW - Free Report) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 519,795 shares of the real estate investment trust's stock after selling 28,864 shares during the quarter. Principal Financial Group Inc. owned 0.47% of CoreCivic worth $6,575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC grew its position in CoreCivic by 2.8% during the second quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust's stock worth $383,000 after buying an additional 804 shares in the last quarter. nVerses Capital LLC bought a new position in shares of CoreCivic in the second quarter worth $40,000. Victory Capital Management Inc. raised its stake in CoreCivic by 4.6% in the second quarter. Victory Capital Management Inc. now owns 105,908 shares of the real estate investment trust's stock valued at $1,375,000 after purchasing an additional 4,702 shares in the last quarter. Headlands Technologies LLC bought a new stake in CoreCivic during the second quarter worth about $29,000. Finally, Dimensional Fund Advisors LP acquired a new stake in CoreCivic during the second quarter worth about $1,115,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CXW. Northland Securities boosted their target price on shares of CoreCivic from $17.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Wedbush upgraded shares of CoreCivic from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $19.00 to $30.00 in a research report on Tuesday, December 10th.

Insider Activity at CoreCivic

In related news, EVP Anthony L. Grande sold 26,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $22.18, for a total value of $576,680.00. Following the completion of the transaction, the executive vice president now owns 127,380 shares in the company, valued at $2,825,288.40. This trade represents a 16.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne L. Mariucci sold 10,000 shares of CoreCivic stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the director now owns 101,936 shares in the company, valued at approximately $2,446,464. This represents a 8.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,000 shares of company stock valued at $2,389,880. 1.89% of the stock is owned by insiders.

CoreCivic Price Performance

CoreCivic stock traded down $0.01 during midday trading on Thursday, reaching $21.73. The company's stock had a trading volume of 803,639 shares, compared to its average volume of 1,021,968. The stock has a market cap of $2.40 billion, a PE ratio of 32.43 and a beta of 1.02. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.66. CoreCivic, Inc. has a 52 week low of $10.74 and a 52 week high of $24.99. The business has a 50-day moving average price of $20.41 and a 200-day moving average price of $15.67.

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.