Forestar Group Inc (NYSE:FOR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Forestar Group Inc (NYSE:FOR) by 94.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,626 shares of the oil and gas exploration company’s stock after selling 319,326 shares during the quarter. Principal Financial Group Inc.’s holdings in Forestar Group were worth $415,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Forestar Group by 263,300.0% in the 1st quarter. GAMMA Investing LLC now owns 13,170 shares of the oil and gas exploration company’s stock worth $278,000 after buying an additional 13,165 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Forestar Group in the 4th quarter worth $38,000. Bank of America Corp DE lifted its holdings in Forestar Group by 106.4% in the 4th quarter. Bank of America Corp DE now owns 39,035 shares of the oil and gas exploration company’s stock worth $1,012,000 after buying an additional 20,127 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Forestar Group by 16.1% in the 4th quarter. Two Sigma Advisers LP now owns 104,781 shares of the oil and gas exploration company’s stock worth $2,716,000 after buying an additional 14,500 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in Forestar Group in the 4th quarter worth $634,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Insider Buying and Selling at Forestar Group

In other news, Director Elizabeth Parmer sold 1,460 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $20.57, for a total value of $30,032.20. Following the completion of the sale, the director directly owned 3,357 shares of the company’s stock, valued at approximately $69,053.49. This represents a 30.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JMP Securities set a $30.00 target price on shares of Forestar Group and gave the stock a “market outperform” rating in a research report on Tuesday, July 15th. Citigroup assumed coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They issued an “outperform” rating for the company. BTIG Research dropped their target price on shares of Forestar Group from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Finally, Citizens Jmp assumed coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They issued a “strong-buy” rating and a $30.00 target price for the company. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Forestar Group has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Forestar Group Trading Down 0.9%

Shares of NYSE:FOR opened at $21.87 on Monday. The company has a 50 day moving average of $20.34 and a 200-day moving average of $21.51. The firm has a market cap of $1.11 billion, a P/E ratio of 6.63 and a beta of 1.40. Forestar Group Inc has a twelve month low of $18.00 and a twelve month high of $34.82. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The company had revenue of $351.00 million during the quarter, compared to analyst estimates of $379.60 million. Forestar Group had a return on equity of 10.65% and a net margin of 11.45%. As a group, analysts anticipate that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Forestar Group Company 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.