Cigna Investments Inc. New Sells 114 Shares of D.R. Horton, Inc. (NYSE:DHI)

Cigna Investments Inc. New decreased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,051 shares of the construction company’s stock after selling 114 shares during the quarter. Cigna Investments Inc. New’s holdings in D.R. Horton were worth $582,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC purchased a new position in D.R. Horton during the 1st quarter valued at about $1,249,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in D.R. Horton by 85.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after buying an additional 16,252 shares during the period. Bessemer Group Inc. boosted its position in D.R. Horton by 107.6% during the 1st quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock valued at $2,444,000 after acquiring an additional 7,699 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in D.R. Horton by 92.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock valued at $68,448,000 after acquiring an additional 199,668 shares in the last quarter. Finally, Concord Investment Counsel Inc. purchased a new position in shares of D.R. Horton in the 1st quarter valued at $4,161,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DHI shares. Wells Fargo & Company dropped their price objective on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target on the stock in a report on Tuesday, October 15th. Barclays reduced their price objective on shares of D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods raised their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI reduced their price target on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, D.R. Horton currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.33.

D.R. Horton Stock Down 0.8 %

Shares of DHI stock opened at $167.61 on Friday. D.R. Horton, Inc. has a fifty-two week low of $111.59 and a fifty-two week high of $199.85. The firm has a market capitalization of $54.61 billion, a PE ratio of 11.67, a P/E/G ratio of 0.57 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.32. The stock’s 50-day simple moving average is $186.47 and its 200-day simple moving average is $165.31.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter last year, the company posted $4.45 EPS. D.R. Horton’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities analysts expect that D.R. Horton, Inc. will post 15.87 earnings per share for the current year.

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. D.R. Horton’s payout ratio is currently 8.36%.

D.R. Horton announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 18th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

D.R. Horton Company Profile

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.