Citigroup Inc. Boosts Stake in Century Communities, Inc. (NYSE:CCS)

Citigroup Inc. increased its stake in shares of Century Communities, Inc. (NYSE:CCS - Free Report) by 34.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,952 shares of the construction company's stock after purchasing an additional 18,765 shares during the period. Citigroup Inc. owned approximately 0.23% of Century Communities worth $7,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. grew its stake in shares of Century Communities by 11.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 883,197 shares of the construction company's stock valued at $72,122,000 after purchasing an additional 89,310 shares during the period. Jennison Associates LLC boosted its holdings in shares of Century Communities by 9.9% in the third quarter. Jennison Associates LLC now owns 544,407 shares of the construction company's stock worth $56,063,000 after buying an additional 49,256 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Century Communities by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 493,480 shares of the construction company's stock valued at $50,819,000 after buying an additional 16,397 shares during the period. Assenagon Asset Management S.A. increased its holdings in Century Communities by 444.7% during the third quarter. Assenagon Asset Management S.A. now owns 362,227 shares of the construction company's stock valued at $37,302,000 after buying an additional 295,729 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Century Communities by 84.9% in the second quarter. Marshall Wace LLP now owns 143,771 shares of the construction company's stock worth $11,740,000 after acquiring an additional 66,029 shares during the period. Institutional investors own 99.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCS. StockNews.com raised shares of Century Communities from a "sell" rating to a "hold" rating in a research report on Wednesday. Wedbush lifted their target price on Century Communities from $90.00 to $96.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Finally, B. Riley restated a "buy" rating and issued a $119.00 price target (up previously from $113.00) on shares of Century Communities in a research report on Thursday, October 24th.

Century Communities Price Performance

Shares of CCS traded down $0.44 during mid-day trading on Friday, reaching $90.36. The stock had a trading volume of 115,762 shares, compared to its average volume of 311,131. The business has a fifty day moving average of $94.00 and a 200 day moving average of $91.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 9.01 and a beta of 1.87. Century Communities, Inc. has a 12 month low of $71.46 and a 12 month high of $108.42.

Century Communities (NYSE:CCS - Get Free Report) last released its earnings results on Wednesday, October 23rd. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.16. Century Communities had a return on equity of 13.79% and a net margin of 7.44%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter last year, the business posted $2.58 earnings per share. The firm's revenue was up 23.7% on a year-over-year basis. Equities analysts predict that Century Communities, Inc. will post 10.95 EPS for the current year.

Century Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, November 27th. Century Communities's dividend payout ratio (DPR) is presently 10.37%.

About Century Communities

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.