Principal Financial Group Inc. Acquires 2,675 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Principal Financial Group Inc. raised its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,084 shares of the financial services provider’s stock after purchasing an additional 2,675 shares during the period. Principal Financial Group Inc. owned approximately 0.44% of LGI Homes worth $6,852,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Summit Investment Advisors Inc. lifted its stake in LGI Homes by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,185 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 141 shares during the last quarter. Mariner LLC increased its position in shares of LGI Homes by 3.2% during the fourth quarter. Mariner LLC now owns 4,581 shares of the financial services provider’s stock worth $410,000 after buying an additional 143 shares during the period. Tower Research Capital LLC TRC increased its position in shares of LGI Homes by 10.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,210 shares of the financial services provider’s stock worth $198,000 after buying an additional 212 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in LGI Homes by 8.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,023 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 245 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in LGI Homes by 8.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,136 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 402 shares during the period. Institutional investors own 84.89% of the company’s stock.

Analyst Ratings Changes

LGIH has been the topic of a number of recent analyst reports. Wedbush reissued a “neutral” rating and set a $93.00 price target on shares of LGI Homes in a research report on Monday, July 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 price objective on shares of LGI Homes in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 9th.

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $50.82 on Wednesday. The company has a 50 day moving average of $52.63 and a 200 day moving average of $66.94. The stock has a market cap of $1.19 billion, a P/E ratio of 6.56 and a beta of 1.76. LGI Homes, Inc. has a 12 month low of $47.17 and a 12 month high of $125.83. The company has a current ratio of 16.58, a quick ratio of 0.54 and a debt-to-equity ratio of 0.80.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.29). LGI Homes had a return on equity of 9.49% and a net margin of 8.46%. The company had revenue of $351.42 million during the quarter, compared to analysts’ expectations of $380.07 million. During the same period in the prior year, the firm earned $0.72 EPS. LGI Homes’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

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.