Principal Financial Group Inc. purchased a new position in shares of Bancolombia SA (NYSE:CIB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 553,696 shares of the company’s stock, valued at approximately $19,335,000. Principal Financial Group Inc. owned approximately 0.23% of Bancolombia SA as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Aperio Group LLC raised its stake in Bancolombia SA by 39.8% in the first quarter. Aperio Group LLC now owns 131,738 shares of the company’s stock valued at $4,503,000 after buying an additional 37,516 shares in the last quarter. Ngam Advisors L.P. raised its stake in Bancolombia SA by 261.0% in the first quarter. Ngam Advisors L.P. now owns 72,383 shares of the company’s stock valued at $2,474,000 after buying an additional 52,332 shares in the last quarter. Franklin Resources Inc. raised its stake in Bancolombia SA by 31.8% in the first quarter. Franklin Resources Inc. now owns 423,902 shares of the company’s stock valued at $14,489,000 after buying an additional 102,200 shares in the last quarter. BlackRock Inc. raised its stake in Bancolombia SA by 463.3% in the first quarter. BlackRock Inc. now owns 29,688 shares of the company’s stock valued at $1,014,000 after buying an additional 24,418 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Bancolombia SA by 9.8% in the first quarter. BlackRock Group LTD now owns 290,515 shares of the company’s stock valued at $9,929,000 after buying an additional 26,044 shares in the last quarter. 12.37% of the stock is owned by hedge funds and other institutional investors.
Shares of Bancolombia SA (NYSE:CIB) opened at 39.04 on Friday. The company’s 50 day moving average price is $39.07 and its 200 day moving average price is $36.02. Bancolombia SA has a one year low of $23.69 and a one year high of $42.58. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 11.86 and a beta of 0.81.
A number of analysts have recently issued reports on CIB shares. Zacks Investment Research lowered Bancolombia SA from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Deutsche Bank AG upgraded Bancolombia SA from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Bancolombia SA currently has a consensus rating of “Hold” and a consensus target price of $39.88.
About Bancolombia SA
Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.
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