Citigroup Inc. Sells 9,388 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• Citigroup Inc. reduced its stake in Taylor Morrison Home Corporation by 4.4%, now holding approximately $12.24 million worth of shares after selling 9,388 shares.
• Victory Capital Management and Assenagon Asset Management significantly increased their holdings in Taylor Morrison, with increases of 197.2% and 80.2% respectively during the first quarter.
• Taylor Morrison reported a $2.02 EPS for the last quarter, surpassing analyst expectations, with revenue of $2.03 billion reflecting a 2.0% year-over-year increase.

Citigroup Inc. trimmed its position in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 4.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 203,886 shares of the construction company's stock after selling 9,388 shares during the period. Citigroup Inc. owned 0.20% of Taylor Morrison Home worth $12,241,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Northern Trust Corp raised its position in shares of Taylor Morrison Home by 13.4% in the 4th quarter. Northern Trust Corp now owns 1,670,241 shares of the construction company's stock worth $102,235,000 after acquiring an additional 197,880 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Taylor Morrison Home by 1.6% in the 4th quarter. Nuveen Asset Management LLC now owns 952,988 shares of the construction company's stock worth $58,332,000 after buying an additional 14,590 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Taylor Morrison Home by 80.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company's stock worth $54,760,000 after buying an additional 405,875 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Taylor Morrison Home by 197.2% in the 1st quarter. Victory Capital Management Inc. now owns 793,987 shares of the construction company's stock worth $47,671,000 after purchasing an additional 526,819 shares during the period. Finally, Assetmark Inc. raised its holdings in Taylor Morrison Home by 2.9% during the 1st quarter. Assetmark Inc. now owns 783,185 shares of the construction company's stock valued at $47,022,000 after acquiring an additional 22,265 shares during the period. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TMHC. Barclays set a $69.00 price target on shares of Taylor Morrison Home and gave the stock an "overweight" rating in a report on Thursday, April 24th. Seaport Res Ptn upgraded shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Wedbush reaffirmed an "outperform" rating and set a $85.00 target price on shares of Taylor Morrison Home in a research note on Wednesday, April 23rd. Bank of America began coverage on shares of Taylor Morrison Home in a research report on Monday, May 5th. They issued a "buy" rating and a $70.00 target price for the company. Finally, Wall Street Zen cut shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, Taylor Morrison Home currently has an average rating of "Buy" and a consensus price target of $76.88.

Taylor Morrison Home Stock Up 1.7%

Shares of NYSE:TMHC traded up $1.18 during mid-day trading on Tuesday, reaching $69.29. 408,576 shares of the stock were exchanged, compared to its average volume of 1,069,386. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35. The stock's 50 day simple moving average is $62.53 and its 200-day simple moving average is $60.43. The company has a market cap of $6.95 billion, a P/E ratio of 8.00 and a beta of 1.53. Taylor Morrison Home Corporation has a one year low of $51.90 and a one year high of $75.49.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.08. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the company earned $1.86 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Taylor Morrison Home Corporation will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 9,754 shares of Taylor Morrison Home stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $65.22, for a total value of $636,155.88. Following the completion of the transaction, the chief financial officer directly owned 14,163 shares of the company's stock, valued at $923,710.86. The trade was a 40.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company's stock.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.