PulteGroup, Inc. (NYSE:PHM) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 5.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,424 shares of the construction company’s stock after acquiring an additional 389 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in PulteGroup were worth $808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. Grove Bank & Trust increased its holdings in PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after acquiring an additional 72 shares in the last quarter. Cromwell Holdings LLC increased its holdings in PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners increased its holdings in PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after acquiring an additional 83 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in PulteGroup by 3.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after acquiring an additional 88 shares in the last quarter. Finally, Premier Path Wealth Partners LLC increased its holdings in PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PHM. JPMorgan Chase & Co. dropped their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Oppenheimer dropped their target price on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Citigroup lowered their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Bank of America lowered their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. One investment 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 company has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Price Performance

PHM opened at $110.44 on Wednesday. The stock has a market capitalization of $22.65 billion, a PE ratio of 7.51, a P/E/G ratio of 0.49 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86. PulteGroup, Inc. has a 1 year low of $100.24 and a 1 year high of $149.47. The company’s 50 day simple moving average is $117.15 and its 200 day simple moving average is $127.35.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, sell-side analysts expect that PulteGroup, Inc. will post 13.34 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.80%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup’s payout ratio is 5.98%.

PulteGroup declared that its Board of Directors has authorized a share repurchase plan on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

PulteGroup 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.