First Mercantile Trust Co. increased its holdings in Howard Hughes Corp (NYSE:HHC) by 36.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,790 shares of the financial services provider’s stock after acquiring an additional 480 shares during the quarter. First Mercantile Trust Co.’s holdings in Howard Hughes were worth $174,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of HHC. FMR LLC raised its holdings in shares of Howard Hughes by 15.6% in the 2nd quarter. FMR LLC now owns 632,166 shares of the financial services provider’s stock worth $83,763,000 after acquiring an additional 85,302 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Howard Hughes by 4.1% in the 2nd quarter. Northern Trust Corp now owns 194,102 shares of the financial services provider’s stock worth $25,718,000 after acquiring an additional 7,566 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Howard Hughes by 15.1% in the 3rd quarter. Bank of Montreal Can now owns 53,315 shares of the financial services provider’s stock worth $6,623,000 after acquiring an additional 6,980 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in shares of Howard Hughes in the 3rd quarter worth about $248,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Howard Hughes by 74.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 404,704 shares of the financial services provider’s stock worth $50,273,000 after acquiring an additional 173,000 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.
NYSE:HHC opened at $109.74 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 70.80 and a beta of 1.32. Howard Hughes Corp has a 52 week low of $89.51 and a 52 week high of $142.36.
Separately, Citigroup increased their price objective on shares of Howard Hughes from $157.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $160.00.
In other news, President Grant Herlitz acquired 5,091 shares of the firm’s stock in a transaction on Monday, December 17th. The stock was purchased at an average price of $98.29 per share, for a total transaction of $500,394.39. Following the purchase, the president now owns 154,503 shares in the company, valued at approximately $15,186,099.87. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin Orrock sold 771 shares of the stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $95.90, for a total transaction of $73,938.90. Following the completion of the sale, the insider now owns 7,693 shares of the company’s stock, valued at approximately $737,758.70. The disclosure for this sale can be found here. In the last quarter, insiders acquired 9,361 shares of company stock valued at $936,935. Company insiders own 10.10% of the company’s stock.
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Howard Hughes Profile
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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