CANADA LIFE ASSURANCE Co Has $37.33 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

CANADA LIFE ASSURANCE Co decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 342,971 shares of the construction company's stock after selling 17,702 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.17% of PulteGroup worth $37,334,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PHM. Franklin Resources Inc. boosted its stake in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock valued at $1,300,034,000 after buying an additional 683,592 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PulteGroup by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock valued at $556,465,000 after purchasing an additional 64,947 shares in the last quarter. Norges Bank bought a new stake in shares of PulteGroup in the 4th quarter worth about $427,562,000. Amundi increased its position in shares of PulteGroup by 77.9% during the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock worth $180,775,000 after purchasing an additional 716,716 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in PulteGroup by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company's stock valued at $155,856,000 after purchasing an additional 129,975 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now directly owns 74,758 shares of the company's stock, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brien P. O'meara sold 3,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.40, for a total value of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares in the company, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,191 shares of company stock worth $2,256,367. Corporate insiders own 0.76% of the company's stock.

PulteGroup Stock Performance

PHM traded up $1.63 during trading on Thursday, hitting $102.69. The stock had a trading volume of 601,420 shares, compared to its average volume of 2,327,614. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 6.98, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a 50 day moving average price of $101.54 and a 200-day moving average price of $115.50. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The company had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.86 billion. During the same quarter in the previous year, the business posted $3.10 earnings per share. As a group, research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

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

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 issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. PulteGroup's dividend payout ratio is presently 5.98%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wedbush restated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a report on Tuesday. 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. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Oppenheimer cut their target price on shares of PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Finally, Evercore ISI boosted their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and a consensus price target of $134.43.

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.