American International Group Inc. Sells 1,556 Shares of PulteGroup, Inc. (NYSE:PHM)

American International Group Inc. trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,546 shares of the construction company’s stock after selling 1,556 shares during the period. American International Group Inc.’s holdings in PulteGroup were worth $6,941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Lake Street Advisors Group LLC bought a new stake in shares of PulteGroup during the 1st quarter valued at $245,000. Bessemer Group Inc. grew its stake in PulteGroup by 108.6% during the first quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock valued at $1,981,000 after acquiring an additional 8,555 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in PulteGroup by 377.1% during the first quarter. UniSuper Management Pty Ltd now owns 10,925 shares of the construction company’s stock valued at $1,318,000 after acquiring an additional 8,635 shares in the last quarter. Seven Eight Capital LP purchased a new position in PulteGroup during the first quarter valued at $1,261,000. Finally, O Shaughnessy Asset Management LLC grew its stake in PulteGroup by 2.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 369,175 shares of the construction company’s stock valued at $44,530,000 after acquiring an additional 10,161 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Up 2.0 %

NYSE:PHM opened at $125.00 on Friday. The firm has a market cap of $25.94 billion, a P/E ratio of 10.01, a PEG ratio of 0.52 and a beta of 1.61. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $114.10 and its 200-day simple moving average is $111.32. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $129.85.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the previous year, the business earned $3.00 earnings per share. PulteGroup’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that PulteGroup, Inc. will post 12.68 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Tuesday, June 18th. PulteGroup’s payout ratio is 6.41%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PHM. Citigroup cut their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Barclays lifted their price target on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group lifted their price objective on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.93.

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.