PulteGroup, Inc. (NYSE:PHM) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 30.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 709,341 shares of the construction company’s stock after selling 306,250 shares during the period. Allianz Asset Management GmbH owned approximately 0.35% of PulteGroup worth $77,247,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Fortitude Family Office LLC boosted its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of PulteGroup during the 3rd quarter valued at approximately $29,000. Hager Investment Management Services LLC acquired a new stake in PulteGroup in the 4th quarter valued at $29,000. R Squared Ltd acquired a new stake in PulteGroup in the 4th quarter valued at $39,000. Finally, JNBA Financial Advisors purchased a new stake in PulteGroup in the 3rd quarter worth $43,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on PHM shares. Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Barclays lowered their price objective on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group reduced their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Seaport Res Ptn downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, Oppenheimer dropped their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Price Performance

PulteGroup stock opened at $103.04 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $111.18 and a 200 day moving average price of $125.49. PulteGroup, Inc. has a 12-month low of $101.13 and a 12-month high of $149.47. The stock has a market cap of $20.86 billion, a P/E ratio of 7.00, a PEG ratio of 0.28 and a beta of 1.68.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Sell-side 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. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.85%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

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

Insider Buying and Selling at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 over the last quarter. 0.83% of the stock is currently owned by company insiders.

PulteGroup Company 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.