Kinsale Capital Group Inc. Has $5.65 Million Position in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Kinsale Capital Group Inc. increased its stake in PulteGroup, Inc. by 18.4% in the first quarter, owning 54,929 shares worth approximately $5.65 million at the end of the quarter.
• Analysts have raised their price targets for PulteGroup, with Raymond James setting a price objective of $140.00 and a consensus target price of $134.15, indicating a generally positive outlook.
• PulteGroup's quarterly earnings report revealed an earnings per share of $3.03, exceeding estimates, although its revenue fell 4.3% compared to the same quarter last year.

Kinsale Capital Group Inc. lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 18.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,929 shares of the construction company's stock after purchasing an additional 8,554 shares during the period. Kinsale Capital Group Inc.'s holdings in PulteGroup were worth $5,647,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Merit Financial Group LLC lifted its holdings in PulteGroup by 20.5% in the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock valued at $1,582,000 after buying an additional 2,613 shares during the period. Vest Financial LLC lifted its holdings in PulteGroup by 1,311.3% in the first quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock valued at $32,148,000 after buying an additional 290,564 shares during the period. Hudson Capital Management LLC lifted its holdings in PulteGroup by 8.6% in the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock valued at $4,246,000 after buying an additional 3,266 shares during the period. NBC Securities Inc. lifted its holdings in PulteGroup by 103,800.0% in the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock valued at $534,000 after buying an additional 5,190 shares during the period. Finally, Reyes Financial Architecture Inc. lifted its holdings in PulteGroup by 42.1% in the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company's stock valued at $79,000 after buying an additional 228 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 0.5%

Shares of NYSE:PHM traded up $0.57 during midday trading on Monday, reaching $116.92. 1,569,080 shares of the company were exchanged, compared to its average volume of 2,366,847. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $105.66 and a two-hundred day simple moving average of $105.08. The firm has a market cap of $23.07 billion, a PE ratio of 8.74, a P/E/G ratio of 0.34 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the business posted $3.83 earnings per share. The firm's quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.88 annualized dividend and a yield of 0.75%. PulteGroup's payout ratio is currently 6.58%.

Analyst Ratings Changes

PHM has been the topic of several analyst reports. Raymond James Financial restated an "outperform" rating and issued a $140.00 price objective (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Citigroup increased their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Oppenheimer increased their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group increased their target price on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.15.

About PulteGroup

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.