Pictet Asset Management Ltd. Takes Position in TAL Education Group (TAL)
Pictet Asset Management Ltd. purchased a new stake in TAL Education Group (NYSE:TAL) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 91,030 shares of the company’s stock, valued at approximately $10,602,000.
Other large investors have also recently added to or reduced their stakes in the company. Greenleaf Trust purchased a new stake in TAL Education Group during the second quarter valued at about $229,000. Creative Planning purchased a new stake in TAL Education Group during the second quarter valued at about $257,000. Main Street Research LLC purchased a new stake in TAL Education Group during the second quarter valued at about $291,000. World Asset Management Inc purchased a new stake in TAL Education Group during the second quarter valued at about $329,000. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in TAL Education Group during the first quarter valued at about $330,000. 57.64% of the stock is currently owned by hedge funds and other institutional investors.
TAL Education Group (TAL) opened at 165.83 on Monday. The firm’s 50-day moving average is $142.89 and its 200 day moving average is $114.44. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 113.66 and a beta of 0.26. TAL Education Group has a one year low of $59.20 and a one year high of $173.83. Shares of TAL Education Group are scheduled to split on Wednesday, August 16th. The 6-1 split was announced on Friday, January 1st. The newly issued shares will be payable to shareholders after the market closes on Tuesday, August 15th.
TAL Education Group (NYSE:TAL) last released its earnings results on Thursday, July 27th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.16. The firm had revenue of $321.90 million during the quarter, compared to analysts’ expectations of $306.46 million. TAL Education Group had a net margin of 11.14% and a return on equity of 19.47%. The firm’s revenue was up 65.0% on a year-over-year basis. Analysts forecast that TAL Education Group will post $1.99 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on the stock. Jefferies Group LLC reaffirmed a “buy” rating on shares of TAL Education Group in a research note on Tuesday, April 18th. Citigroup Inc. assumed coverage on shares of TAL Education Group in a research note on Tuesday, July 18th. They set a “neutral” rating and a $150.00 price target on the stock. Benchmark Co. assumed coverage on shares of TAL Education Group in a research note on Tuesday, April 18th. They set a “buy” rating and a $135.00 price target on the stock. UBS AG assumed coverage on shares of TAL Education Group in a research note on Tuesday, August 1st. They set a “buy” rating on the stock. Finally, Zacks Investment Research downgraded shares of TAL Education Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $141.88.
TAL Education Group Company Profile
TAL Education Group is a holding company for a group of companies engaged in provision of after-school tutoring programs for primary and secondary school students in the People’s Republic of China (the PRC). The Company is a K-12 after-school tutoring services provider in China. The Company’s Xueersi Peiyou small classes course consists of approximately four semesters, which include approximately two school semesters in Spring and Fall, and approximately two holiday semesters in summer and winter.
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