Principal Financial Group Inc. Has $11.56 Million Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Principal Financial Group Inc. lessened its stake in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,531 shares of the financial services provider’s stock after selling 3,699 shares during the quarter. Principal Financial Group Inc. owned about 0.41% of LGI Homes worth $11,559,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in LGI Homes by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,220,411 shares of the financial services provider’s stock valued at $258,389,000 after purchasing an additional 19,800 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of LGI Homes by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,506,611 shares of the financial services provider’s stock valued at $134,827,000 after buying an additional 53,031 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of LGI Homes by 1.7% during the second quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider’s stock worth $81,096,000 after acquiring an additional 15,340 shares in the last quarter. Capital World Investors raised its holdings in shares of LGI Homes by 6.2% in the 1st quarter. Capital World Investors now owns 846,202 shares of the financial services provider’s stock worth $98,473,000 after acquiring an additional 49,640 shares during the last quarter. Finally, River Road Asset Management LLC lifted its position in LGI Homes by 45.9% in the 3rd quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock valued at $82,425,000 after acquiring an additional 218,923 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, LGI Homes currently has an average rating of “Hold” and an average target price of $126.00.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $104.20 on Monday. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $110.58 and a two-hundred day simple moving average of $103.24. LGI Homes, Inc. has a 1-year low of $84.00 and a 1-year high of $136.89. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 12.49 and a beta of 1.97.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41. The company had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.84 earnings per share. Analysts anticipate that LGI Homes, Inc. will post 8.72 earnings per share for the current year.

LGI Homes Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.