Independent Investors Inc. reduced its position in Howard Hughes Corp (NYSE:HHC) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,260 shares of the financial services provider’s stock after selling 4,610 shares during the quarter. Howard Hughes accounts for approximately 1.4% of Independent Investors Inc.’s holdings, making the stock its 18th biggest holding. Independent Investors Inc. owned approximately 0.08% of Howard Hughes worth $3,344,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HHC. Qube Research & Technologies Ltd purchased a new stake in Howard Hughes in the 2nd quarter worth about $132,000. Pinnacle Financial Partners Inc. raised its position in Howard Hughes by 339.1% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 1,335 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 1,031 shares during the period. Summit Financial Strategies Inc. purchased a new stake in Howard Hughes in the 3rd quarter worth about $217,000. SG Americas Securities LLC purchased a new stake in Howard Hughes in the 2nd quarter worth about $243,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Howard Hughes by 75.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 1,859 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 801 shares during the period. 84.66% of the stock is currently owned by institutional investors.

Shares of NYSE:HHC opened at $104.69 on Monday. The company has a market cap of $4.52 billion, a PE ratio of 67.54 and a beta of 1.20. Howard Hughes Corp has a one year low of $89.51 and a one year high of $142.36. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.28 and a current ratio of 1.28.

Howard Hughes (NYSE:HHC) last issued its earnings results on Monday, November 5th. The financial services provider reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.08). The company had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $191.77 million. Howard Hughes had a return on equity of 2.38% and a net margin of 18.75%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. Sell-side analysts anticipate that Howard Hughes Corp will post 0.92 earnings per share for the current year.

In other news, CEO David Weinreb purchased 50,000 shares of the business’s stock in a transaction on Friday, November 9th. The shares were acquired at an average cost of $109.39 per share, with a total value of $5,469,500.00. Following the completion of the acquisition, the chief executive officer now owns 1,325,177 shares of the company’s stock, valued at $144,961,112.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey D. Furber purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The stock was purchased at an average cost of $109.88 per share, for a total transaction of $109,880.00. Following the completion of the acquisition, the director now directly owns 18,210 shares of the company’s stock, valued at approximately $2,000,914.80. The disclosure for this purchase can be found here. Insiders purchased 63,931 shares of company stock valued at $6,906,347 in the last three months. 10.10% of the stock is currently owned by insiders.

A number of brokerages have recently commented on HHC. Citigroup raised their target price on shares of Howard Hughes from $157.00 to $159.00 and gave the stock a “buy” rating in a research report on Tuesday, November 13th. TheStreet lowered shares of Howard Hughes from a “b-” rating to a “c+” rating in a research report on Tuesday, September 18th. One equities research analyst has rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $160.00.

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Howard Hughes Company Profile

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate properties in the United States. It operates in three segments: Master Planned Communities, Operating Assets, and Strategic Developments. The Master Planned Communities segment develops and sells residential and commercial land.

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Institutional Ownership by Quarter for Howard Hughes (NYSE:HHC)

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