Vanguard Group Inc. Purchases 286,464 Shares of Simon Property Group, Inc. $SPG

Vanguard Group Inc. increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 0.6% in the fourth quarter, acquiring an additional 286,464 shares and bringing its total holdings to 46,969,966 shares valued at $8.69 billion. Simon Property Group’s stock opened at $201.07, and institutional investors and hedge funds collectively own 93.01% of the company. The company also reported strong quarterly earnings, beating consensus estimates, and announced a stock repurchase plan of $2.00 billion, indicating management believes its stock is undervalued.

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