AIA Group Ltd Sells 8,421 Shares of Lennar Co. (NYSE:LEN)

AIA Group Ltd cut its holdings in Lennar Co. (NYSE:LEN - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,249 shares of the construction company's stock after selling 8,421 shares during the period. AIA Group Ltd's holdings in Lennar were worth $852,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bamco Inc. NY grew its position in shares of Lennar by 2.6% in the third quarter. Bamco Inc. NY now owns 711,023 shares of the construction company's stock valued at $133,303,000 after purchasing an additional 17,834 shares in the last quarter. Community Bank N.A. boosted its stake in Lennar by 14.6% in the 3rd quarter. Community Bank N.A. now owns 4,465 shares of the construction company's stock worth $837,000 after purchasing an additional 570 shares during the period. Holocene Advisors LP purchased a new position in Lennar during the 3rd quarter valued at about $115,229,000. Hilltop Holdings Inc. bought a new stake in shares of Lennar during the third quarter valued at about $533,000. Finally, HighVista Strategies LLC bought a new position in shares of Lennar in the third quarter valued at approximately $1,444,000. Institutional investors own 81.10% of the company's stock.

Lennar Trading Up 2.3 %

Shares of NYSE:LEN traded up $2.47 during midday trading on Friday, hitting $110.87. 7,728,176 shares of the stock traded hands, compared to its average volume of 2,516,754. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The business's 50 day moving average is $121.78 and its two-hundred day moving average is $148.63. The stock has a market capitalization of $29.44 billion, a PE ratio of 7.73, a P/E/G ratio of 1.24 and a beta of 1.51. Lennar Co. has a one year low of $106.20 and a one year high of $187.61.

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Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the prior year, the company posted $2.57 EPS. Lennar's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts forecast that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Wednesday, January 29th. Lennar's payout ratio is currently 14.57%.

Wall Street Analysts Forecast Growth

LEN has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a report on Tuesday, March 25th. Royal Bank of Canada dropped their price target on Lennar from $125.00 to $122.00 and set a "sector perform" rating for the company in a research report on Monday, March 24th. UBS Group lowered their target price on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Wolfe Research cut shares of Lennar from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lennar has an average rating of "Hold" and a consensus target price of $151.07.

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.