Allianz Asset Management GmbH Decreases Stake 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 cut its stake in shares of Century Communities, Inc. (NYSE:CCS - Free Report) by 43.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,750 shares of the construction company's stock after selling 15,846 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.07% of Century Communities worth $1,392,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CCS. Sigma Planning Corp boosted its stake in Century Communities by 4.2% in the 1st quarter. Sigma Planning Corp now owns 4,925 shares of the construction company's stock worth $330,000 after purchasing an additional 200 shares during the period. Versant Capital Management Inc raised its holdings in shares of Century Communities by 533.9% during the 1st quarter. Versant Capital Management Inc now owns 393 shares of the construction company's stock worth $26,000 after acquiring an additional 331 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Century Communities by 21.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,806 shares of the construction company's stock worth $188,000 after acquiring an additional 498 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Century Communities by 7.8% during the 4th quarter. Cetera Investment Advisers now owns 7,784 shares of the construction company's stock worth $571,000 after acquiring an additional 562 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Century Communities by 11.2% during the 4th quarter. Benjamin Edwards Inc. now owns 5,612 shares of the construction company's stock valued at $412,000 after buying an additional 565 shares during the period. 99.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCS. Wall Street Zen lowered Century Communities from a "hold" rating to a "sell" rating in a report on Sunday. B. Riley began coverage on Century Communities in a report on Monday, June 30th. They set a "buy" rating and a $70.00 price target on the stock. Finally, Wedbush decreased their price target on Century Communities from $93.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $85.00.

Century Communities Trading Up 2.1%

NYSE:CCS traded up $1.24 during midday trading on Monday, hitting $58.95. 57,744 shares of the company traded hands, compared to its average volume of 441,371. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44. The firm's fifty day moving average is $56.65 and its 200-day moving average is $62.65. Century Communities, Inc. has a 12-month low of $50.42 and a 12-month high of $108.42. The firm has a market capitalization of $1.75 billion, a P/E ratio of 7.20 and a beta of 1.41.

Century Communities (NYSE:CCS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The construction company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the firm posted $2.65 earnings per share. The business's revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Century Communities, Inc. will post 11.07 EPS for the current year.

Century Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.0%. Century Communities's dividend payout ratio is presently 14.16%.

Insider Activity

In other Century Communities news, Director Elisa Z. Ramirez purchased 500 shares of the firm's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $54.68 per share, for a total transaction of $27,340.00. Following the completion of the purchase, the director owned 8,981 shares in the company, valued at $491,081.08. This represents a 5.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.60% 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.