Daiwa Securities Group Inc. Has $1.80 Million Stake in Comp En De Mn Cemig ADS (CIG)

Daiwa Securities Group Inc. decreased its position in Comp En De Mn Cemig ADS (NYSE:CIG) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 750,300 shares of the utilities provider’s stock after selling 6,700 shares during the period. Daiwa Securities Group Inc. owned about 0.06% of Comp En De Mn Cemig ADS worth $1,800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of Comp En De Mn Cemig ADS during the first quarter worth about $121,000. Edmond DE Rothschild Holding S.A. raised its position in shares of Comp En De Mn Cemig ADS by 3,522.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 54,299 shares of the utilities provider’s stock worth $179,000 after buying an additional 52,800 shares during the period. Capstone Asset Management Co. raised its position in shares of Comp En De Mn Cemig ADS by 0.8% in the first quarter. Capstone Asset Management Co. now owns 75,697 shares of the utilities provider’s stock worth $249,000 after buying an additional 590 shares during the period. KCG Holdings Inc. raised its position in shares of Comp En De Mn Cemig ADS by 141.6% in the first quarter. KCG Holdings Inc. now owns 77,995 shares of the utilities provider’s stock worth $257,000 after buying an additional 45,716 shares during the period. Finally, Guinness Atkinson Asset Management Inc raised its position in shares of Comp En De Mn Cemig ADS by 19.3% in the second quarter. Guinness Atkinson Asset Management Inc now owns 114,304 shares of the utilities provider’s stock worth $274,000 after buying an additional 18,500 shares during the period. Institutional investors own 3.20% of the company’s stock.

Shares of Comp En De Mn Cemig ADS (NYSE:CIG) traded up 0.79% during midday trading on Friday, hitting $2.54. The stock had a trading volume of 2,509,217 shares. Comp En De Mn Cemig ADS has a 52 week low of $2.06 and a 52 week high of $3.84. The stock has a 50 day moving average price of $2.66 and a 200-day moving average price of $2.82. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 15.97 and a beta of 1.89.

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A number of research firms have recently commented on CIG. BidaskClub raised Comp En De Mn Cemig ADS from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. J P Morgan Chase & Co downgraded Comp En De Mn Cemig ADS from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) raised Comp En De Mn Cemig ADS from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $2.10 to $2.80 in a research note on Friday, July 14th. Finally, Morgan Stanley raised Comp En De Mn Cemig ADS from an “underweight” rating to an “overweight” rating in a research note on Thursday, June 22nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.80.

About Comp En De Mn Cemig ADS

Companhia Energetica de Minas Gerais-CEMIG is a holding company that is engaged in the generation, transmission and distribution of electricity. The Company’s segments include Generation, Transmission, Distribution, Telecom, Gas and Other. The Company, through its interests in subsidiaries or jointly controlled entities, is engaged in the activities of the construction and operation of systems for sale of electricity, as well as various fields of energy and telecommunications, for the purpose of commercial operation.

Institutional Ownership by Quarter for Comp En De Mn Cemig ADS (NYSE:CIG)

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