Zurich Insurance Group Ltd FI Cuts Holdings in Lennar Co. (NYSE:LEN)

Zurich Insurance Group Ltd FI decreased its position in Lennar Co. (NYSE:LEN) by 90.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,724 shares of the construction company’s stock after selling 134,600 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Lennar were worth $2,008,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC increased its position in shares of Lennar by 19.3% during the fourth quarter. Merit Financial Group LLC now owns 4,520 shares of the construction company’s stock valued at $616,000 after acquiring an additional 731 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Lennar by 2.0% during the 4th quarter. HB Wealth Management LLC now owns 5,121 shares of the construction company’s stock valued at $698,000 after purchasing an additional 99 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Lennar by 56.7% during the 4th quarter. UMB Bank n.a. now owns 835 shares of the construction company’s stock worth $114,000 after purchasing an additional 302 shares during the period. Central Bank & Trust Co. boosted its holdings in shares of Lennar by 6.1% in the 4th quarter. Central Bank & Trust Co. now owns 8,387 shares of the construction company’s stock worth $1,144,000 after buying an additional 482 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in Lennar by 3.6% during the fourth quarter. Ballentine Partners LLC now owns 3,261 shares of the construction company’s stock valued at $445,000 after buying an additional 114 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 1.7%

LEN stock opened at $109.32 on Wednesday. The stock has a 50-day simple moving average of $110.40 and a two-hundred day simple moving average of $131.49. Lennar Co. has a twelve month low of $98.42 and a twelve month high of $187.61. The firm has a market capitalization of $28.84 billion, a PE ratio of 7.62, a PEG ratio of 1.24 and a beta of 1.41. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the previous year, the company earned $2.57 earnings per share. Lennar’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts predict that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.83%. Lennar’s dividend payout ratio (DPR) is presently 14.57%.

Analysts Set New Price Targets

Several analysts have commented on LEN shares. StockNews.com raised shares of Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Barclays reduced their price objective on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, March 24th. UBS Group lowered their target price on Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Royal Bank of Canada cut their price target on Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research note on Monday, March 24th. Fifteen equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $150.07.

About Lennar

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.