Corebridge Financial Inc. Has $5.66 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Corebridge Financial Inc. reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,967 shares of the construction company’s stock after selling 899 shares during the quarter. Corebridge Financial Inc.’s holdings in PulteGroup were worth $5,659,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Logan Capital Management Inc. lifted its stake in shares of PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after purchasing an additional 5,976 shares during the period. Sanctuary Advisors LLC lifted its stake in PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after buying an additional 33,472 shares during the period. Systematic Financial Management LP lifted its stake in PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after buying an additional 4,840 shares during the period. Nilsine Partners LLC boosted its holdings in PulteGroup by 929.2% during the fourth quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after buying an additional 18,575 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of PulteGroup by 3.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock worth $496,000 after buying an additional 143 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian P. Anderson sold 2,500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is owned by corporate insiders.

PulteGroup Stock Down 3.1 %

Shares of PHM stock opened at $101.76 on Friday. The firm’s fifty day moving average price is $107.58 and its two-hundred day moving average price is $121.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1 year low of $100.35 and a 1 year high of $149.47. The firm has a market capitalization of $20.60 billion, a P/E ratio of 6.92, a PEG ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) 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%. On average, equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its board has authorized a share repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup’s payout ratio is presently 5.98%.

Analyst Ratings Changes

PHM has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Citigroup reduced their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America dropped their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company cut their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Company 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.