The Manufacturers Life Insurance Company Increases Position in Green Brick Partners, Inc. $GRBK

Key Points

• The Manufacturers Life Insurance Company increased its stake in Green Brick Partners by 56.7% during the first quarter, now owning over 453,977 shares valued at approximately $26.47 million.
• Green Brick Partners reported a net margin of 17.70% for the last quarter but missed earnings estimates, posting $1.85 EPS compared to the expected $1.94 EPS.
• Insider COO Jed Dolson sold 20,000 shares of the company at an average price of $66.76, reducing his ownership by 6.81% to approximately $18.27 million.

The Manufacturers Life Insurance Company raised its position in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 56.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 453,977 shares of the financial services provider's stock after purchasing an additional 164,273 shares during the period. The Manufacturers Life Insurance Company owned 1.03% of Green Brick Partners worth $26,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GRBK. Annex Advisory Services LLC boosted its holdings in shares of Green Brick Partners by 72.8% in the 1st quarter. Annex Advisory Services LLC now owns 469,955 shares of the financial services provider's stock valued at $27,403,000 after buying an additional 198,024 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Green Brick Partners by 10.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 438,707 shares of the financial services provider's stock valued at $25,581,000 after buying an additional 41,083 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Green Brick Partners by 6.1% in the 4th quarter. Northern Trust Corp now owns 345,661 shares of the financial services provider's stock valued at $19,526,000 after buying an additional 19,752 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Green Brick Partners by 2.4% in the 1st quarter. GW&K Investment Management LLC now owns 334,275 shares of the financial services provider's stock valued at $19,492,000 after buying an additional 7,967 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Green Brick Partners by 0.9% in the 1st quarter. Invesco Ltd. now owns 262,783 shares of the financial services provider's stock valued at $15,323,000 after buying an additional 2,230 shares in the last quarter. 78.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, B. Riley started coverage on shares of Green Brick Partners in a report on Monday, June 30th. They issued a "neutral" rating and a $62.00 target price for the company. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Green Brick Partners has a consensus rating of "Hold" and a consensus price target of $66.00.

Green Brick Partners Stock Performance

NASDAQ:GRBK traded up $1.25 during trading hours on Friday, reaching $73.28. 298,346 shares of the company's stock were exchanged, compared to its average volume of 285,599. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 9.52 and a beta of 1.89. The company has a 50-day moving average of $66.80 and a 200 day moving average of $61.74. The company has a quick ratio of 0.63, a current ratio of 7.57 and a debt-to-equity ratio of 0.20. Green Brick Partners, Inc. has a 1-year low of $50.57 and a 1-year high of $84.66.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.85 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by ($0.09). Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%.The company's quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.32 EPS. Research analysts anticipate that Green Brick Partners, Inc. will post 8.34 EPS for the current year.

Insider Buying and Selling

In other Green Brick Partners news, COO Jed Dolson sold 20,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $66.76, for a total transaction of $1,335,200.00. Following the completion of the transaction, the chief operating officer owned 273,605 shares in the company, valued at approximately $18,265,869.80. This represents a 6.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.70% of the company's stock.

About Green Brick Partners

Green Brick Partners, Inc is a diversified homebuilding and land development company in the United States. The company operates through three segments: Builder operations Central, Builder operations Southeast, and Land Development. The Builder operations Central segment operates builders in Texas; and the closing and delivery of homes.