Principal Financial Group Inc. Lowers Stock Holdings in The Howard Hughes Co. (NYSE:HHC)

Principal Financial Group Inc. trimmed its stake in The Howard Hughes Co. (NYSE:HHC) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,630,787 shares of the financial services provider’s stock after selling 107,195 shares during the period. Principal Financial Group Inc. owned about 4.77% of The Howard Hughes worth $256,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in HHC. Pershing Square Capital Management L.P. boosted its position in The Howard Hughes by 23.4% in the 1st quarter. Pershing Square Capital Management L.P. now owns 13,470,008 shares of the financial services provider’s stock valued at $1,281,402,000 after buying an additional 2,552,000 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of The Howard Hughes by 1,408.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 280,256 shares of the financial services provider’s stock worth $26,661,000 after purchasing an additional 261,682 shares during the period. Millennium Management LLC lifted its position in shares of The Howard Hughes by 149.6% in the 1st quarter. Millennium Management LLC now owns 396,898 shares of the financial services provider’s stock worth $37,757,000 after purchasing an additional 237,854 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of The Howard Hughes by 35.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 854,403 shares of the financial services provider’s stock worth $81,280,000 after purchasing an additional 225,914 shares during the period. Finally, Baillie Gifford & Co. lifted its position in shares of The Howard Hughes by 3.2% in the 2nd quarter. Baillie Gifford & Co. now owns 3,546,661 shares of the financial services provider’s stock worth $345,657,000 after purchasing an additional 110,058 shares during the period. 91.90% of the stock is owned by institutional investors.

In other The Howard Hughes news, EVP David Michael Striph sold 1,422 shares of the company’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $87.93, for a total transaction of $125,036.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pershing Square Capital Manage acquired 150,156 shares of the business’s stock in a transaction dated Friday, September 3rd. The stock was acquired at an average price of $92.00 per share, for a total transaction of $13,814,352.00. The disclosure for this purchase can be found here. Corporate insiders own 25.20% of the company’s stock.

Separately, Zacks Investment Research raised shares of The Howard Hughes from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Thursday, August 5th.

NYSE:HHC opened at $89.30 on Wednesday. The Howard Hughes Co. has a 52 week low of $53.55 and a 52 week high of $113.20. The firm has a 50 day moving average of $90.89 and a 200 day moving average of $97.72. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 69.77 and a beta of 1.52.

The Howard Hughes (NYSE:HHC) last posted its earnings results on Wednesday, August 4th. The financial services provider reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.50. The Howard Hughes had a net margin of 9.25% and a return on equity of 3.19%. As a group, analysts expect that The Howard Hughes Co. will post 0.28 EPS for the current year.

The Howard Hughes Company Profile

The Howard Hughes Corp. engages in the development and management of commercial, residential, and mixed-use real estate. It operates through the following segments: Operating Assets, Master Planned Communities; Seaport District; and Strategic Developments. The Operating Assets segment consists retail, office, hospitality, and multi-family properties along with other real estate investments.

Read More: What is the Stochastic Momentum Index (SMI)?

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

Receive News & Ratings for The Howard Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Howard Hughes and related companies with MarketBeat.com's FREE daily email newsletter.