Kinsale Capital Group Inc. Has $5.90 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Kinsale Capital Group Inc. boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 14.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,116 shares of the construction company’s stock after purchasing an additional 5,307 shares during the quarter. PulteGroup comprises about 1.7% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 24th largest holding. Kinsale Capital Group Inc.’s holdings in PulteGroup were worth $5,901,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased 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 in the last quarter. WR Wealth Planners LLC increased its stake in PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Cromwell Holdings LLC raised its holdings in PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after buying an additional 83 shares during the period. Concord Wealth Partners lifted its stake in PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after buying an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC boosted its holdings in shares of PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of a number of research analyst reports. UBS Group upped their target price on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. BTIG Research upped their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Stock Performance

Shares of NYSE:PHM traded down $0.55 on Friday, reaching $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 current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47. The company has a fifty day moving average of $137.29 and a 200-day moving average of $125.27. The company has a market capitalization of $26.43 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $2.90 EPS. On average, research analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be issued a $0.22 dividend. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is currently 5.90%.

Insider Activity

In other news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the 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 transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The trade was a 44.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

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.