Assenagon Asset Management S.A. Sells 63,683 Shares of PulteGroup, Inc. $PHM

Assenagon Asset Management S.A. lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 38.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,107 shares of the construction company’s stock after selling 63,683 shares during the period. Assenagon Asset Management S.A. owned about 0.05% of PulteGroup worth $12,090,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. increased its position in PulteGroup by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 12,900,271 shares of the construction company’s stock worth $1,704,513,000 after purchasing an additional 609,640 shares in the last quarter. Norges Bank bought a new stake in PulteGroup during the 2nd quarter worth $404,339,000. First Trust Advisors LP increased its stake in shares of PulteGroup by 13.3% in the third quarter. First Trust Advisors LP now owns 3,623,917 shares of the construction company’s stock valued at $478,828,000 after buying an additional 424,011 shares during the period. Invesco Ltd. raised its stake in shares of PulteGroup by 0.9% during the second quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock valued at $277,811,000 after acquiring an additional 23,051 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in PulteGroup during the 3rd quarter worth about $315,883,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

Shares of PHM stock opened at $114.68 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $129.18 and a 200-day moving average of $126.36. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $144.49. The company has a market cap of $21.97 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.36 and a beta of 1.32.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is 9.35%.

Wall Street Analyst Weigh In

PHM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 3rd. Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Wall Street Zen upgraded PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Barclays set a $115.00 target price on PulteGroup in a research note on Monday, December 8th. Finally, BTIG Research began coverage on PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.71.

Insiders Place Their Bets

In other news, EVP Todd N. Sheldon sold 14,220 shares of PulteGroup stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the sale, the executive vice president directly owned 69,753 shares in the company, valued at $9,417,352.53. The trade was a 16.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 149,952 shares of company stock valued at $20,162,165. 0.75% of the stock is currently owned by 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.