Principal Financial Group Inc. Has $11.95 Million Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Principal Financial Group Inc. lifted its position in shares of LGI Homes, Inc. (NASDAQ:LGIH – Get Rating) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,028 shares of the financial services provider’s stock after purchasing an additional 2,813 shares during the quarter. Principal Financial Group Inc.’s holdings in LGI Homes were worth $11,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of LGIH. Bank of New York Mellon Corp grew its holdings in shares of LGI Homes by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 211,227 shares of the financial services provider’s stock worth $20,633,000 after purchasing an additional 1,374 shares in the last quarter. US Bancorp DE grew its holdings in shares of LGI Homes by 20.9% during the 1st quarter. US Bancorp DE now owns 1,181 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 204 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of LGI Homes by 53.3% during the 1st quarter. MetLife Investment Management LLC now owns 11,653 shares of the financial services provider’s stock worth $1,138,000 after buying an additional 4,050 shares during the period. Rhumbline Advisers lifted its position in shares of LGI Homes by 5.8% during the 1st quarter. Rhumbline Advisers now owns 52,450 shares of the financial services provider’s stock worth $5,123,000 after buying an additional 2,883 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of LGI Homes by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,415 shares of the financial services provider’s stock worth $1,799,000 after buying an additional 2,271 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

LGI Homes Trading Up 0.4 %

Shares of LGIH opened at $115.62 on Friday. The stock has a fifty day moving average price of $113.97 and a two-hundred day moving average price of $106.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.25 and a current ratio of 7.82. LGI Homes, Inc. has a 52-week low of $71.73 and a 52-week high of $126.37. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 9.93 and a beta of 1.69.

LGI Homes (NASDAQ:LGIH – Get Rating) last released its earnings results on Tuesday, May 2nd. The financial services provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $487.40 million during the quarter, compared to analyst estimates of $467.54 million. LGI Homes had a net margin of 12.24% and a return on equity of 17.08%. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period last year, the business posted $3.25 earnings per share. Analysts predict that LGI Homes, Inc. will post 7.37 EPS for the current fiscal year.

Insider Activity

In other news, CFO Charles Michael Merdian sold 13,950 shares of LGI Homes stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $104.39, for a total value of $1,456,240.50. Following the completion of the sale, the chief financial officer now directly owns 15,482 shares of the company’s stock, valued at approximately $1,616,165.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Charles Michael Merdian sold 13,950 shares of LGI Homes stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $104.39, for a total value of $1,456,240.50. Following the completion of the sale, the chief financial officer now directly owns 15,482 shares of the company’s stock, valued at approximately $1,616,165.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Scott James Garber sold 4,876 shares of LGI Homes stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $104.39, for a total value of $509,005.64. Following the sale, the general counsel now directly owns 11,207 shares of the company’s stock, valued at $1,169,898.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,210 shares of company stock valued at $8,999,462. Company insiders own 12.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LGIH shares. Wedbush cut their target price on LGI Homes from $91.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, April 12th. JPMorgan Chase & Co. cut their target price on LGI Homes from $84.00 to $79.00 and set an “underweight” rating for the company in a research report on Thursday, February 23rd. StockNews.com started coverage on LGI Homes in a research report on Thursday, May 18th. They issued a “sell” rating for the company. JMP Securities cut their price objective on LGI Homes from $140.00 to $130.00 and set a “market perform” rating for the company in a research report on Tuesday, February 28th. Finally, BTIG Research lifted their price objective on LGI Homes from $73.00 to $77.00 in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, LGI Homes has a consensus rating of “Hold” and an average target price of $93.00.

LGI Homes Company Profile

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LGI Homes, Inc engages in the design, construction, marketing, and sale of new homes. It focuses on the residential land development business. It operates through the following segments: Central, West, Southeast, Florida, Midwest, Mid-Atlantic, and Northwest. The company was founded by Eric Thomas Lipar in 2003 and is headquartered in The Woodlands, TX.