Principal Financial Group Inc. Lowers Holdings in M/I Homes, Inc. (NYSE:MHO)

Principal Financial Group Inc. reduced its position in shares of M/I Homes, Inc. (NYSE:MHO) by 8.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 136,818 shares of the construction company’s stock after selling 13,356 shares during the period. Principal Financial Group Inc.’s holdings in M/I Homes were worth $23,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MHO. SG Americas Securities LLC grew its position in shares of M/I Homes by 48.3% during the 1st quarter. SG Americas Securities LLC now owns 3,803 shares of the construction company’s stock worth $518,000 after buying an additional 1,238 shares in the last quarter. Swiss National Bank grew its holdings in M/I Homes by 0.4% during the 1st quarter. Swiss National Bank now owns 55,000 shares of the construction company’s stock worth $7,496,000 after acquiring an additional 200 shares in the last quarter. ProShare Advisors LLC increased its position in M/I Homes by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 5,453 shares of the construction company’s stock valued at $743,000 after purchasing an additional 373 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of M/I Homes by 3.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company’s stock valued at $166,272,000 after purchasing an additional 35,558 shares in the last quarter. Finally, Spirepoint Private Client LLC purchased a new stake in shares of M/I Homes in the 1st quarter worth approximately $205,000. 95.14% of the stock is owned by institutional investors.

M/I Homes Stock Down 1.6 %

NYSE:MHO opened at $153.50 on Thursday. The company’s 50-day simple moving average is $162.94 and its 200-day simple moving average is $144.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 6.81. M/I Homes, Inc. has a fifty-two week low of $100.00 and a fifty-two week high of $176.18. The stock has a market capitalization of $4.26 billion, a P/E ratio of 8.23 and a beta of 2.24.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MHO. Raymond James lifted their price objective on shares of M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com downgraded M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Wedbush raised M/I Homes from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $155.00 to $185.00 in a research report on Monday, November 4th.

Insider Activity at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total value of $3,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 18,545 shares in the company, valued at $2,967,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.