Principal Financial Group Inc. Has $415,000 Stock Holdings in Forestar Group Inc (NYSE:FOR)

Principal Financial Group Inc. reduced its stake in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 94.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,626 shares of the oil and gas exploration company's stock after selling 319,326 shares during the period. Principal Financial Group Inc.'s holdings in Forestar Group were worth $415,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Total Wealth Planning & Management Inc. boosted its holdings in shares of Forestar Group by 66.7% in the 1st quarter. Total Wealth Planning & Management Inc. now owns 19,111 shares of the oil and gas exploration company's stock valued at $404,000 after buying an additional 7,650 shares during the period. CWA Asset Management Group LLC boosted its stake in Forestar Group by 35.8% during the 1st quarter. CWA Asset Management Group LLC now owns 26,315 shares of the oil and gas exploration company's stock valued at $556,000 after purchasing an additional 6,941 shares during the period. GAMMA Investing LLC boosted its stake in Forestar Group by 263,300.0% during the 1st quarter. GAMMA Investing LLC now owns 13,170 shares of the oil and gas exploration company's stock valued at $278,000 after purchasing an additional 13,165 shares during the period. Heck Capital Advisors LLC acquired a new position in Forestar Group during the 4th quarter valued at about $112,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Forestar Group by 25.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,455 shares of the oil and gas exploration company's stock valued at $1,282,000 after purchasing an additional 10,049 shares during the period. 35.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Elizabeth Parmer sold 1,460 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $20.57, for a total transaction of $30,032.20. Following the sale, the director owned 3,357 shares in the company, valued at $69,053.49. The trade was a 30.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

Forestar Group Price Performance

Shares of NYSE FOR traded down $0.73 during midday trading on Thursday, reaching $24.99. The company's stock had a trading volume of 187,034 shares, compared to its average volume of 191,558. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $20.66 and a 200 day moving average price of $21.53. Forestar Group Inc has a one year low of $18.00 and a one year high of $34.82. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 7.84 and a beta of 1.40.

Forestar Group (NYSE:FOR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.13). Forestar Group had a return on equity of 10.02% and a net margin of 10.54%. The business had revenue of $390.50 million during the quarter, compared to the consensus estimate of $397.50 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities research analysts expect that Forestar Group Inc will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FOR. BTIG Research reduced their target price on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Citizens Jmp began coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating and a $30.00 target price for the company. Citigroup initiated coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating for the company. Finally, JMP Securities set a $30.00 price target on shares of Forestar Group and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.20.

About Forestar Group

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.