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PICO Holdings divests stake in Century Communities

PICO Holdings Inc. announced it netted roughly $59.2 million in proceeds from the sale of its approximately 2.4 million shares in Century Communities Inc.

Following the stake sale, Vidler Water Co. became PICO Holdings' remaining material investment apart from cash and liquid marketable securities, the company said in a release.

Vidler Water is a water resource and water storage business with assets and operations primarily in the southwestern U.S.