Skandinaviska Enskilda Banken AB publ Buys 27,000 Shares of Forestar Group Inc. (NYSE:FOR)

Skandinaviska Enskilda Banken AB publ raised its stake in Forestar Group Inc. (NYSE:FOR) by 19.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,100 shares of the oil and gas exploration company’s stock after acquiring an additional 27,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.33% of Forestar Group worth $5,410,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FOR. Transcendent Capital Group LLC acquired a new position in shares of Forestar Group during the 1st quarter worth approximately $32,000. CWM LLC grew its position in shares of Forestar Group by 111.6% during the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 559 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Forestar Group during the 2nd quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its position in shares of Forestar Group by 115.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 495 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Forestar Group during the 2nd quarter worth approximately $112,000. 35.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FOR has been the topic of several analyst reports. Citigroup reduced their price target on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. reduced their price target on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Finally, BTIG Research reduced their price target on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, July 19th.

Insiders Place Their Bets

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $31.38, for a total value of $62,760.00. Following the completion of the sale, the director now directly owns 7,951 shares in the company, valued at $249,502.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Elizabeth Parmer sold 1,547 shares of Forestar Group stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total transaction of $49,875.28. Following the completion of the transaction, the director now directly owns 1,548 shares in the company, valued at $49,907.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $31.38, for a total transaction of $62,760.00. Following the transaction, the director now owns 7,951 shares of the company’s stock, valued at $249,502.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,095 shares of company stock worth $159,887. 0.49% of the stock is currently owned by company insiders.

Forestar Group Price Performance

Shares of NYSE FOR opened at $33.24 on Monday. Forestar Group Inc. has a twelve month low of $22.71 and a twelve month high of $40.92. The firm has a fifty day simple moving average of $30.95 and a 200 day simple moving average of $33.03. The company has a market capitalization of $1.68 billion, a PE ratio of 8.27 and a beta of 1.76. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.47.

Forestar Group (NYSE:FOR) last announced its earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). The firm had revenue of $318.40 million for the quarter, compared to the consensus estimate of $370.50 million. Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. On average, sell-side analysts forecast that Forestar Group Inc. will post 3.72 EPS for the current year.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.