Principal Financial Group Inc. Has $10.14 Million Position in Forestar Group Inc. (NYSE:FOR)

Principal Financial Group Inc. boosted its position in shares of Forestar Group Inc. (NYSE:FOR) by 2,409.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 317,102 shares of the oil and gas exploration company’s stock after buying an additional 304,468 shares during the quarter. Principal Financial Group Inc. owned approximately 0.63% of Forestar Group worth $10,144,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Forestar Group during the second quarter valued at $112,000. Panagora Asset Management Inc. raised its holdings in Forestar Group by 2.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 70,638 shares of the oil and gas exploration company’s stock worth $2,260,000 after purchasing an additional 1,590 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Forestar Group by 46.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,990 shares of the oil and gas exploration company’s stock valued at $2,111,000 after purchasing an additional 20,795 shares during the period. Family Firm Inc. bought a new position in shares of Forestar Group in the 2nd quarter valued at about $34,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Forestar Group in the 2nd quarter valued at about $6,753,000. 35.50% of the stock is currently owned by institutional investors.

Insider Transactions at Forestar Group

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of the sale, the director now directly owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Forestar Group news, Director Elizabeth Parmer sold 1,547 shares of Forestar Group stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total value of $49,875.28. Following the sale, the director now owns 1,548 shares of the company’s stock, valued at approximately $49,907.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the transaction, the director now directly owns 7,951 shares of the company’s stock, valued at $249,502.38. The disclosure for this sale can be found here. Insiders have sold a total of 5,095 shares of company stock valued at $159,887 over the last 90 days. 0.49% of the stock is owned by company insiders.

Forestar Group Stock Up 0.5 %

Shares of NYSE:FOR opened at $30.12 on Friday. The company has a 50 day moving average price of $30.82 and a two-hundred day moving average price of $33.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $1.52 billion, a PE ratio of 7.49 and a beta of 1.76. Forestar Group Inc. has a 52 week low of $22.71 and a 52 week high of $40.92.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Thursday, July 18th. The oil and gas exploration company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.13). The business had revenue of $318.40 million for the quarter, compared to analyst estimates of $370.50 million. Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. Analysts forecast that Forestar Group Inc. will post 3.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

FOR has been the topic of several analyst reports. Citigroup cut their price objective on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. BTIG Research cut their price target on Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th.

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.