3,636 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by AIA Group Ltd

AIA Group Ltd acquired a new position in PulteGroup, Inc. (NYSE:PHM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,636 shares of the construction company’s stock, valued at approximately $375,000.

A number of other hedge funds have also recently added to or reduced their stakes in PHM. Clear Street Markets LLC increased its holdings in PulteGroup by 90.9% in the first quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in PulteGroup in the fourth quarter worth approximately $26,000. Coppell Advisory Solutions LLC acquired a new position in PulteGroup in the second quarter worth approximately $29,000. Arlington Trust Co LLC acquired a new position in PulteGroup in the third quarter worth approximately $33,000. Finally, Baystate Wealth Management LLC increased its holdings in PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PHM. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Raymond James increased their price target on PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, February 5th. UBS Group downgraded PulteGroup from a “buy” rating to a “neutral” rating and increased their price target for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Royal Bank of Canada increased their price target on PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Finally, Wedbush reissued a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.47.

Insider Buying and Selling

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is owned by company insiders.

PulteGroup Stock Down 0.5 %

Shares of PHM stock opened at $105.45 on Friday. The stock has a market cap of $22.25 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. PulteGroup, Inc. has a one year low of $62.18 and a one year high of $121.07. The stock has a fifty day moving average price of $110.49 and a 200 day moving average price of $98.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. PulteGroup’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period last year, the business earned $3.63 earnings per share. Analysts predict that PulteGroup, Inc. will post 11.79 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.76%. PulteGroup’s dividend payout ratio (DPR) is currently 6.81%.

PulteGroup declared that its Board of Directors has initiated a share buyback plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.