CANADA LIFE ASSURANCE Co Decreases Stake in Zillow Group, Inc. (NASDAQ:Z)

CANADA LIFE ASSURANCE Co cut its holdings in shares of Zillow Group, Inc. (NASDAQ:Z) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,207 shares of the financial services provider’s stock after selling 3,399 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Zillow Group were worth $3,938,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Zillow Group by 1,337.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 397,211 shares of the financial services provider’s stock valued at $29,413,000 after purchasing an additional 369,580 shares in the last quarter. Mackay Shields LLC bought a new position in Zillow Group during the 4th quarter worth approximately $17,496,000. Norges Bank acquired a new position in shares of Zillow Group in the 4th quarter worth approximately $15,923,000. Bridgewater Associates LP grew its position in shares of Zillow Group by 38.3% in the 4th quarter. Bridgewater Associates LP now owns 724,532 shares of the financial services provider’s stock worth $53,652,000 after acquiring an additional 200,760 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of Zillow Group in the 4th quarter valued at approximately $14,665,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Z has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods assumed coverage on shares of Zillow Group in a research report on Friday, March 28th. They set a “market perform” rating and a $80.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. KeyCorp upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.71.

Zillow Group Stock Performance

Shares of Z opened at $65.83 on Friday. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of -140.06, a price-to-earnings-growth ratio of 9.24 and a beta of 2.19. The stock’s fifty day moving average is $69.80 and its 200-day moving average is $73.07. Zillow Group, Inc. has a one year low of $38.45 and a one year high of $89.39.

Zillow Group (NASDAQ:Z) last released its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. Analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 23,388 shares of Zillow Group stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total value of $1,987,512.24. Following the transaction, the chief financial officer now owns 99,362 shares of the company’s stock, valued at $8,443,782.76. The trade was a 19.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total transaction of $209,312.36. Following the sale, the insider now directly owns 142,636 shares of the company’s stock, valued at approximately $10,460,924.24. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,919 shares of company stock valued at $7,869,478 over the last quarter. Corporate insiders own 23.76% of the company’s stock.

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.