JPMorgan Chase & Co. Has $3.48 Million Stake in Forestar Group Inc. (NYSE:FOR)

JPMorgan Chase & Co. increased its stake in shares of Forestar Group Inc. (NYSE:FOR) by 77.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,238 shares of the oil and gas exploration company’s stock after purchasing an additional 58,525 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.26% of Forestar Group worth $3,479,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. increased its position in Forestar Group by 11.3% in the 4th quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company’s stock worth $15,143,000 after purchasing an additional 59,427 shares during the last quarter. First Eagle Investment Management LLC raised its position in Forestar Group by 26.4% during the fourth quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company’s stock valued at $12,433,000 after acquiring an additional 100,100 shares in the last quarter. State Street Corp raised its position in Forestar Group by 0.9% during the third quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock valued at $13,838,000 after acquiring an additional 3,922 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after acquiring an additional 43,369 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Forestar Group by 3.9% in the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock worth $8,566,000 after acquiring an additional 12,473 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Forestar Group Trading Down 2.0 %

Shares of NYSE:FOR opened at $18.56 on Tuesday. Forestar Group Inc. has a 52-week low of $18.00 and a 52-week high of $37.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market cap of $940.53 million, a P/E ratio of 5.20 and a beta of 1.53. The stock’s 50-day moving average is $21.40 and its 200-day moving average is $25.72.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The company had revenue of $351.00 million for the quarter, compared to the consensus estimate of $379.60 million. Equities research analysts predict that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FOR shares. Citigroup reduced their price objective on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 26th. BTIG Research lowered their price objective on Forestar Group from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. reduced their target price on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th.

Insiders Place Their Bets

In other Forestar Group news, CEO Anthony W. Oxley bought 4,300 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $23.14 per share, for a total transaction of $99,502.00. Following the transaction, the chief executive officer now owns 4,300 shares in the company, valued at approximately $99,502. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

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.