Allianz Asset Management GmbH Trims Position in Century Communities, Inc. (NYSE:CCS)

Key Points

• Allianz Asset Management GmbH reduced its stake in Century Communities, Inc. by 43.3%, now holding approximately 20,750 shares valued at $1.39 million.
• Several institutional investors, including American Century Companies and JPMorgan Chase, increased their holdings in Century Communities, highlighting significant interest as 99.54% of the stock is owned by institutional investors.
• Century Communities recently announced a $0.29 quarterly dividend, reflecting an annualized yield of 2.1% with a low payout ratio of 14.16%.

Allianz Asset Management GmbH trimmed its position in shares of Century Communities, Inc. (NYSE:CCS - Free Report) by 43.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,750 shares of the construction company's stock after selling 15,846 shares during the quarter. Allianz Asset Management GmbH owned about 0.07% of Century Communities worth $1,392,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCS. American Century Companies Inc. lifted its position in shares of Century Communities by 5.4% during the fourth quarter. American Century Companies Inc. now owns 58,059 shares of the construction company's stock valued at $4,259,000 after buying an additional 2,951 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Century Communities during the fourth quarter valued at about $425,000. LPL Financial LLC increased its holdings in shares of Century Communities by 41.6% during the fourth quarter. LPL Financial LLC now owns 3,574 shares of the construction company's stock valued at $262,000 after acquiring an additional 1,050 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Century Communities by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 1,971,664 shares of the construction company's stock valued at $144,641,000 after acquiring an additional 5,375 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Century Communities by 22.8% during the fourth quarter. JPMorgan Chase & Co. now owns 253,969 shares of the construction company's stock valued at $18,631,000 after acquiring an additional 47,171 shares in the last quarter. 99.54% of the stock is owned by hedge funds and other institutional investors.

Century Communities Stock Performance

Century Communities stock traded up $1.42 during mid-day trading on Friday, hitting $57.71. The company had a trading volume of 417,982 shares, compared to its average volume of 382,797. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44. Century Communities, Inc. has a 12-month low of $50.42 and a 12-month high of $108.42. The company's fifty day moving average is $56.65 and its 200-day moving average is $62.85. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 7.05 and a beta of 1.41.

Century Communities (NYSE:CCS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.16 by $0.21. Century Communities had a return on equity of 10.99% and a net margin of 6.03%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $910.70 million. During the same quarter in the prior year, the firm posted $2.65 EPS. The business's quarterly revenue was down 1.7% compared to the same quarter last year. Equities research analysts predict that Century Communities, Inc. will post 11.07 EPS for the current year.

Century Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, May 28th. Century Communities's dividend payout ratio is currently 14.16%.

Wall Street Analysts Forecast Growth

CCS has been the topic of several recent analyst reports. Wedbush cut their price objective on shares of Century Communities from $93.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Century Communities from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, B. Riley began coverage on shares of Century Communities in a report on Monday, June 30th. They issued a "buy" rating and a $70.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $85.00.

Insider Buying and Selling

In related news, Director Elisa Z. Ramirez purchased 500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average price of $54.68 per share, with a total value of $27,340.00. Following the purchase, the director owned 8,981 shares of the company's stock, valued at $491,081.08. The trade was a 5.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.90% of the company's stock.

Century Communities Company Profile

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.