Principal Financial Group Inc. Sells 3,699 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Principal Financial Group Inc. lowered its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,531 shares of the financial services provider’s stock after selling 3,699 shares during the quarter. Principal Financial Group Inc. owned 0.41% of LGI Homes worth $11,559,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LGIH. Arizona State Retirement System boosted its stake in shares of LGI Homes by 1.9% during the second quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 112 shares during the period. KBC Group NV lifted its holdings in LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after buying an additional 168 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in LGI Homes by 5.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,232 shares of the financial services provider’s stock valued at $383,000 after buying an additional 176 shares during the period. US Bancorp DE grew its stake in LGI Homes by 6.7% in the 3rd quarter. US Bancorp DE now owns 2,857 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 179 shares in the last quarter. Finally, CWM LLC increased its position in shares of LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 187 shares during the period. Institutional investors own 84.89% of the company’s stock.

LGI Homes Price Performance

Shares of LGIH opened at $89.59 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The company has a 50 day moving average price of $103.11 and a 200-day moving average price of $104.03. LGI Homes, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $136.36. The stock has a market capitalization of $2.11 billion, a PE ratio of 10.74 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The company had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. During the same quarter in the prior year, the business earned $2.84 earnings per share. LGI Homes’s revenue was up 5.6% on a year-over-year basis. Equities analysts predict that LGI Homes, Inc. will post 8.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $125.00 price target on shares of LGI Homes in a report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their price target on LGI Homes from $100.00 to $82.00 and set an “underweight” rating on the stock in a research report on Friday, December 13th.

LGI Homes Company 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.