Janus Henderson Group PLC Invests $437,000 in Howard Hughes Corp (HHC) Stock

Janus Henderson Group PLC acquired a new position in shares of Howard Hughes Corp (NYSE:HHC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,300 shares of the financial services provider’s stock, valued at approximately $437,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Howard Hughes by 1.2% during the second quarter. BlackRock Inc. now owns 1,719,275 shares of the financial services provider’s stock worth $227,805,000 after purchasing an additional 20,858 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Howard Hughes by 3.5% during the first quarter. Principal Financial Group Inc. now owns 1,407,569 shares of the financial services provider’s stock worth $195,836,000 after purchasing an additional 47,981 shares during the last quarter. Caledonia Private Investments Pty Ltd lifted its stake in Howard Hughes by 12.4% during the first quarter. Caledonia Private Investments Pty Ltd now owns 1,237,313 shares of the financial services provider’s stock worth $172,147,000 after purchasing an additional 136,253 shares during the last quarter. Jennison Associates LLC lifted its stake in Howard Hughes by 46.8% during the second quarter. Jennison Associates LLC now owns 1,052,235 shares of the financial services provider’s stock worth $139,421,000 after purchasing an additional 335,590 shares during the last quarter. Finally, Becker Capital Management Inc. lifted its stake in Howard Hughes by 1.0% during the second quarter. Becker Capital Management Inc. now owns 418,720 shares of the financial services provider’s stock worth $55,480,000 after purchasing an additional 4,056 shares during the last quarter. Hedge funds and other institutional investors own 84.55% of the company’s stock.

Several equities analysts recently issued reports on HHC shares. TheStreet cut Howard Hughes from a “b-” rating to a “c+” rating in a research note on Tuesday, September 18th. Citigroup reduced their price objective on Howard Hughes from $160.00 to $157.00 and set a “buy” rating on the stock in a research note on Monday, August 13th. Sandler O’Neill upgraded Howard Hughes from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Friday, June 1st. Jefferies Financial Group restated a “$141.27” rating and set a $171.00 price objective on shares of Howard Hughes in a research note on Wednesday, July 18th. Finally, Zacks Investment Research upgraded Howard Hughes from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the company. Howard Hughes presently has a consensus rating of “Buy” and a consensus target price of $159.33.

HHC stock opened at $126.70 on Monday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 81.74 and a beta of 1.20. Howard Hughes Corp has a 1 year low of $115.00 and a 1 year high of $142.36.

Howard Hughes (NYSE:HHC) last posted its earnings results on Monday, August 6th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.34). The company had revenue of $181.00 million during the quarter, compared to the consensus estimate of $165.87 million. Howard Hughes had a net margin of 17.29% and a return on equity of 1.99%. The business’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. analysts predict that Howard Hughes Corp will post 1.65 EPS for the current year.

In other Howard Hughes news, Director Pershing Square Capital Manage sold 13,685 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $125.09, for a total value of $1,711,856.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul H. Layne sold 4,928 shares of the firm’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $137.00, for a total value of $675,136.00. Following the completion of the sale, the insider now owns 22,037 shares in the company, valued at $3,019,069. The disclosure for this sale can be found here. Company insiders own 10.10% of the company’s stock.

About Howard Hughes

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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