Principal Financial Group Inc. Has $11.67 Million Stake in Forestar Group Inc. (NYSE:FOR)

Principal Financial Group Inc. grew its holdings in Forestar Group Inc. (NYSE:FOR) by 13.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 360,471 shares of the oil and gas exploration company’s stock after purchasing an additional 43,369 shares during the quarter. Principal Financial Group Inc. owned about 0.71% of Forestar Group worth $11,668,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Summit Advisors LLC boosted its stake in Forestar Group by 2.2% during the 2nd quarter. Sierra Summit Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock valued at $549,000 after purchasing an additional 370 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Forestar Group by 115.4% in the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 495 shares during the period. CWM LLC boosted its position in shares of Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 559 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Forestar Group by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock worth $349,000 after acquiring an additional 765 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Forestar Group by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,997 shares of the oil and gas exploration company’s stock worth $442,000 after acquiring an additional 781 shares during the period. 35.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased 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.

Insider Transactions at Forestar Group

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the sale, the director now owns 5,951 shares of the company’s stock, valued at $193,883.58. The trade was a 25.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is owned by insiders.

Forestar Group Price Performance

Shares of FOR stock opened at $29.40 on Monday. Forestar Group Inc. has a 12 month low of $27.49 and a 12 month high of $40.92. The company has a market capitalization of $1.49 billion, a P/E ratio of 7.33 and a beta of 1.76. The stock has a 50 day moving average of $31.74 and a two-hundred day moving average of $31.80. The company has a current ratio of 1.61, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.31 by $0.29. The firm had revenue of $551.40 million during the quarter, compared to analysts’ expectations of $503.76 million. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. Forestar Group’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $1.44 earnings per share. As a group, equities analysts expect that Forestar Group Inc. will post 3.67 EPS for the current year.

Forestar Group Profile

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.