PulteGroup, Inc. $PHM Shares Bought by AIA Group Ltd

Key Points

• AIA Group boosted its stake in PulteGroup by 138.3% in the third quarter, adding 10,074 shares to hold 17,357 shares worth about $2.29 million at quarter-end per its SEC filing.
• Insiders have been net sellers recently, offloading 149,952 shares worth roughly $20.16 million over the past 90 days, including Ryan Marshall’s sale of 111,250 shares (~$14.9M).
• PulteGroup announced a quarterly dividend of $0.26 (annualized $1.04, yield ~0.9%) and trades with a market cap of $22.56 billion, a P/E of 10.59, and a 52-week range of $88.07–$144.49.

AIA Group Ltd grew its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 138.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,357 shares of the construction company's stock after acquiring an additional 10,074 shares during the period. AIA Group Ltd's holdings in PulteGroup were worth $2,293,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PHM. Allworth Financial LP raised its stake in shares of PulteGroup by 2.6% during the 3rd quarter. Allworth Financial LP now owns 9,031 shares of the construction company's stock valued at $1,193,000 after buying an additional 227 shares during the last quarter. Goldentree Asset Management LP acquired a new stake in PulteGroup during the third quarter worth about $39,972,000. CIBC Private Wealth Group LLC raised its position in PulteGroup by 88.3% during the third quarter. CIBC Private Wealth Group LLC now owns 14,307 shares of the construction company's stock valued at $1,890,000 after acquiring an additional 6,710 shares in the last quarter. Captrust Financial Advisors raised its position in PulteGroup by 6.8% during the third quarter. Captrust Financial Advisors now owns 1,061,377 shares of the construction company's stock valued at $140,240,000 after acquiring an additional 67,770 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in PulteGroup by 26.8% in the third quarter. Coldstream Capital Management Inc. now owns 6,115 shares of the construction company's stock valued at $808,000 after acquiring an additional 1,293 shares during the period. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

PulteGroup stock opened at $117.75 on Friday. The company has a fifty day simple moving average of $131.02 and a 200-day simple moving average of $127.17. The firm has a market capitalization of $22.56 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.36 and a beta of 1.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $144.49.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup's dividend payout ratio (DPR) is 9.35%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PHM. BTIG Research initiated coverage on shares of PulteGroup in a research report on Monday, December 1st. They set a "neutral" rating on the stock. Barclays set a $115.00 target price on PulteGroup in a research report on Monday, December 8th. Wall Street Zen raised PulteGroup from a "sell" rating to a "hold" rating in a report on Sunday, January 11th. Citizens Jmp began coverage on PulteGroup in a report on Wednesday, January 7th. They issued a "market outperform" rating and a $145.00 price objective on the stock. Finally, Weiss Ratings raised PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $142.71.

Insiders Place Their Bets

In related news, EVP Kevin A. Henry sold 5,173 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares of the company's stock, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ryan Marshall sold 111,250 shares of the company's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the completion of the sale, the insider directly owned 659,392 shares of the company's stock, valued at $88,266,213.12. This represents a 14.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 149,952 shares of company stock worth $20,162,165. 0.76% of the stock is currently owned by company insiders.

PulteGroup Profile

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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