Kinsale Capital Group Inc. Acquires 5,259 Shares of PulteGroup, Inc. (NYSE:PHM)

Kinsale Capital Group Inc. increased its holdings in PulteGroup, Inc. (NYSE:PHM) by 12.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,375 shares of the construction company’s stock after buying an additional 5,259 shares during the period. Kinsale Capital Group Inc.’s holdings in PulteGroup were worth $5,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in PulteGroup in the 3rd quarter worth approximately $29,000. Hager Investment Management Services LLC bought a new position in PulteGroup in the 4th quarter worth approximately $29,000. JNBA Financial Advisors bought a new position in PulteGroup in the 3rd quarter worth approximately $43,000. Fortitude Family Office LLC boosted its holdings in PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after buying an additional 137 shares during the period. Finally, R Squared Ltd bought a new position in PulteGroup in the 4th quarter worth approximately $39,000. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PHM shares. The Goldman Sachs Group cut their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Barclays cut their price target on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Oppenheimer cut their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, UBS Group raised their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $140.86.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $103.23 on Friday. The stock has a market cap of $20.90 billion, a PE ratio of 7.02, a PEG ratio of 0.29 and a beta of 1.68. The company’s fifty day moving average is $109.97 and its 200 day moving average is $124.72. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s payout ratio is presently 5.98%.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total transaction of $372,400.00. Following the completion of the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock worth $2,256,367 in the last 90 days. 0.83% of the stock is owned by company insiders.

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.