Cigna Investments Inc. New Sells 102 Shares of Lennar Co. (NYSE:LEN)

Cigna Investments Inc. New decreased its stake in shares of Lennar Co. (NYSE:LEN) by 4.0% during the third quarter, HoldingsChannel reports. The firm owned 2,466 shares of the construction company’s stock after selling 102 shares during the quarter. Cigna Investments Inc. New’s holdings in Lennar were worth $462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. D1 Capital Partners L.P. boosted its position in Lennar by 428.9% during the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after acquiring an additional 1,962,447 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after purchasing an additional 396,951 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Lennar in the first quarter worth $61,807,000. Jacobs Levy Equity Management Inc. raised its holdings in Lennar by 157.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after purchasing an additional 351,698 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after buying an additional 348,553 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 0.4 %

Shares of Lennar stock opened at $169.70 on Friday. Lennar Co. has a twelve month low of $113.44 and a twelve month high of $193.80. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $181.34 and its 200 day moving average is $167.54. The company has a market cap of $46.03 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.60 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted $3.91 EPS. Research analysts anticipate that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is currently 13.25%.

Analyst Upgrades and Downgrades

LEN has been the subject of several research reports. Royal Bank of Canada increased their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Citigroup raised their target price on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. JMP Securities raised their price objective on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Finally, Bank of America boosted their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $181.11.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is currently owned by insiders.

Lennar Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.