Allstate Corp Purchases Shares of 6,249 PulteGroup, Inc. (NYSE:PHM)

Allstate Corp acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,249 shares of the construction company's stock, valued at approximately $681,000.

Several other large investors have also bought and sold shares of PHM. Richardson Financial Services Inc. increased its stake in shares of PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company's stock valued at $68,000 after buying an additional 89 shares during the period. Premier Path Wealth Partners LLC increased its position 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 purchasing an additional 95 shares during the period. Meridian Wealth Management LLC raised its holdings in PulteGroup by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company's stock worth $1,440,000 after purchasing an additional 95 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in shares of PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company's stock worth $479,000 after purchasing an additional 103 shares during the period. Finally, Wedmont Private Capital boosted its stake in shares of PulteGroup by 3.7% in the 4th quarter. Wedmont Private Capital now owns 3,050 shares of the construction company's stock valued at $328,000 after purchasing an additional 110 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

PHM has been the topic of several recent analyst reports. StockNews.com lowered shares of PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. Barclays dropped their price objective on PulteGroup from $125.00 to $117.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Wedbush reissued an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Finally, UBS Group raised their price objective on shares of PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $140.86.

Insider Activity

In other news, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, the director now directly owns 56,617 shares of the company's stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares of the company's stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,191 shares of company stock valued at $2,256,367 over the last quarter. Company insiders own 0.76% of the company's stock.

PulteGroup Stock Up 3.4 %

PHM stock traded up $3.30 during mid-day trading on Friday, reaching $101.05. 3,953,718 shares of the company traded hands, compared to its average volume of 1,964,526. PulteGroup, Inc. has a fifty-two week low of $95.14 and a fifty-two week high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average price is $106.12 and its 200 day moving average price is $120.07. The stock has a market cap of $20.46 billion, a price-to-earnings ratio of 6.87, a P/E/G ratio of 0.29 and a beta of 1.44.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.87%. PulteGroup's payout ratio is 5.98%.

PulteGroup declared that its board has approved a share repurchase plan on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are 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.