California Public Employees Retirement System acquired a new stake in TAL Education Group (NYSE:TAL) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 58,300 shares of the company’s stock, valued at approximately $7,131,000. California Public Employees Retirement System owned 0.07% of TAL Education Group at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in TAL. Nomura Asset Management Co. Ltd. acquired a new position in shares of TAL Education Group in the 1st quarter valued at about $330,000. DnB Asset Management AS acquired a new position in shares of TAL Education Group in the 2nd quarter valued at about $12,684,000. Handelsbanken Fonder AB acquired a new position in shares of TAL Education Group in the 2nd quarter valued at about $7,339,000. Xact Kapitalforvaltning AB acquired a new position in shares of TAL Education Group in the 2nd quarter valued at about $734,000. Finally, Capstone Asset Management Co. acquired a new position in shares of TAL Education Group in the 2nd quarter valued at about $462,000. 8.59% of the stock is currently owned by institutional investors.
TAL Education Group (NYSE:TAL) last released its earnings results on Thursday, July 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. TAL Education Group had a net margin of 11.14% and a return on equity of 19.47%. The firm had revenue of $321.90 million during the quarter, compared to analyst estimates of $306.46 million. The firm’s revenue was up 65.0% compared to the same quarter last year.
TAL has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded TAL Education Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Bank of America Corporation reissued a “buy” rating and issued a $40.30 price objective (up from $29.10) on shares of TAL Education Group in a research note on Monday, September 25th. Jefferies Group LLC boosted their price objective on TAL Education Group to $35.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Morgan Stanley initiated coverage on TAL Education Group in a research note on Friday, August 25th. They issued an “overweight” rating and a $37.00 price objective on the stock. Finally, J P Morgan Chase & Co boosted their price objective on TAL Education Group to $31.67 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.29.
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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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