Kinsale Capital Group Inc. Grows Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Kinsale Capital Group Inc. increased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 14.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,116 shares of the construction company's stock after purchasing an additional 5,307 shares during the quarter. PulteGroup accounts for approximately 1.7% of Kinsale Capital Group Inc.'s investment portfolio, making the stock its 24th largest position. Kinsale Capital Group Inc.'s holdings in PulteGroup were worth $5,901,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust lifted its holdings in shares of PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock worth $66,000 after acquiring an additional 72 shares during the last quarter. WR Wealth Planners LLC grew its stake in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock worth $26,000 after buying an additional 82 shares during the last quarter. Cromwell Holdings LLC increased its holdings in shares of PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company's stock worth $81,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners lifted its stake in shares of PulteGroup by 1.7% in 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 during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its holdings in shares of PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company's stock valued at $256,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PHM shares. Bank of America upped their target price on PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Evercore ISI cut their target price on shares of PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Raymond James lifted their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, Barclays increased their target price on shares of PulteGroup from $131.00 to $150.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.00.

Insider Buying and Selling at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 44.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company's stock.

PulteGroup Stock Down 0.4 %

Shares of NYSE:PHM traded down $0.55 during midday trading on Friday, hitting $128.89. 1,509,994 shares of the company's stock were exchanged, compared to its average volume of 1,839,799. The company has a market cap of $26.43 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47. The stock has a 50 day moving average price of $137.29 and a 200-day moving average price of $125.27.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm's revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $2.90 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.68%. This is a boost from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's payout ratio is currently 5.90%.

About PulteGroup

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.