PNC Financial Services Group Inc. Has $586,000 Position in LGI Homes, Inc. (LGIH)

PNC Financial Services Group Inc. cut its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 14.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,568 shares of the financial services provider’s stock after selling 2,557 shares during the period. PNC Financial Services Group Inc. owned 0.07% of LGI Homes worth $586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. lifted its stake in LGI Homes by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,333 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 40 shares in the last quarter. Arizona State Retirement System raised its position in shares of LGI Homes by 1.1% during the 1st quarter. Arizona State Retirement System now owns 8,900 shares of the financial services provider’s stock valued at $302,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of LGI Homes by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the financial services provider’s stock valued at $281,000 after buying an additional 100 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of LGI Homes by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $135,000 after buying an additional 260 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in shares of LGI Homes by 2.3% during the 2nd quarter. Texas Permanent School Fund now owns 12,616 shares of the financial services provider’s stock valued at $507,000 after buying an additional 289 shares in the last quarter. 93.37% of the stock is owned by institutional investors.

A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research report on Wednesday. Wedbush lowered shares of LGI Homes from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $49.00 in a report on Tuesday, October 3rd. ValuEngine raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. BidaskClub lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. Finally, Deutsche Bank AG lifted their target price on shares of LGI Homes from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Four analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.40.

In other LGI Homes news, insider Michael Larry Snider sold 3,500 shares of LGI Homes stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $45.81, for a total transaction of $160,335.00. Following the sale, the insider now owns 191,948 shares of the company’s stock, valued at approximately $8,793,137.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bryan Christopher Sansbury sold 25,000 shares of LGI Homes stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the sale, the director now directly owns 159,551 shares in the company, valued at approximately $7,387,211.30. The disclosure for this sale can be found here. Insiders sold a total of 38,500 shares of company stock worth $1,743,735 in the last three months. 13.60% of the stock is owned by corporate insiders.

Shares of LGI Homes, Inc. (LGIH) opened at 53.99 on Friday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 14.34 and a beta of 0.12. LGI Homes, Inc. has a 12 month low of $26.82 and a 12 month high of $54.84. The company’s 50-day moving average is $46.88 and its 200 day moving average is $39.83.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.12. The firm had revenue of $324.20 million during the quarter, compared to analyst estimates of $317.63 million. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The business’s quarterly revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. On average, equities research analysts anticipate that LGI Homes, Inc. will post $4.41 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. lifted its stake in LGI Homes by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 15,333 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 40 shares in the last quarter. Arizona State Retirement System raised its position in shares of LGI Homes by 1.1% during the 1st quarter. Arizona State Retirement System now owns 8,900 shares of the financial services provider’s stock valued at $302,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of LGI Homes by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the financial services provider’s stock valued at $281,000 after buying an additional 100 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of LGI Homes by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $135,000 after buying an additional 260 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in shares of LGI Homes by 2.3% during the 2nd quarter. Texas Permanent School Fund now owns 12,616 shares of the financial services provider’s stock valued at $507,000 after buying an additional 289 shares in the last quarter. 93.37% of the stock is owned by institutional investors.

A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research report on Wednesday. Wedbush lowered shares of LGI Homes from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $49.00 in a report on Tuesday, October 3rd. ValuEngine raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. BidaskClub lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. Finally, Deutsche Bank AG lifted their target price on shares of LGI Homes from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Four analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.40.

In other LGI Homes news, insider Michael Larry Snider sold 3,500 shares of LGI Homes stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $45.81, for a total transaction of $160,335.00. Following the sale, the insider now owns 191,948 shares of the company’s stock, valued at approximately $8,793,137.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bryan Christopher Sansbury sold 25,000 shares of LGI Homes stock in a transaction on Monday, August 14th. The stock was sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the sale, the director now directly owns 159,551 shares in the company, valued at approximately $7,387,211.30. The disclosure for this sale can be found here. Insiders sold a total of 38,500 shares of company stock worth $1,743,735 in the last three months. 13.60% of the stock is owned by corporate insiders.

Shares of LGI Homes, Inc. (LGIH) opened at 53.99 on Friday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 14.34 and a beta of 0.12. LGI Homes, Inc. has a 12 month low of $26.82 and a 12 month high of $54.84. The company’s 50-day moving average is $46.88 and its 200 day moving average is $39.83.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.12. The firm had revenue of $324.20 million during the quarter, compared to analyst estimates of $317.63 million. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The business’s quarterly revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. On average, equities research analysts anticipate that LGI Homes, Inc. will post $4.41 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/15/pnc-financial-services-group-inc-has-586000-position-in-lgi-homes-inc-lgih.html.

LGI Homes Profile

LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

Want to see what other hedge funds are holding LGIH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LGI Homes, Inc. (NASDAQ:LGIH).

Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

Receive News & Ratings for LGI Homes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply