Jennison Associates LLC Reduces Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Jennison Associates LLC reduced its position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 32.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,450 shares of the construction company's stock after selling 16,747 shares during the quarter. Jennison Associates LLC's holdings in Tri Pointe Homes were worth $1,285,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP increased its stake in Tri Pointe Homes by 4.4% in the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company's stock worth $280,000 after buying an additional 258 shares during the period. Empowered Funds LLC increased its position in shares of Tri Pointe Homes by 0.3% during the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company's stock worth $4,501,000 after acquiring an additional 265 shares during the period. Highland Capital Management LLC raised its stake in shares of Tri Pointe Homes by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company's stock valued at $212,000 after acquiring an additional 368 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Tri Pointe Homes by 7.4% during the fourth quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company's stock valued at $232,000 after acquiring an additional 444 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Tri Pointe Homes by 9.4% in the third quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company's stock valued at $284,000 after purchasing an additional 541 shares during the period. Institutional investors own 97.01% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TPH. Oppenheimer decreased their target price on Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Royal Bank of Canada cut their price target on Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Wedbush reaffirmed a "neutral" rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.75.

Tri Pointe Homes Stock Up 0.8 %

Shares of NYSE TPH traded up $0.28 during mid-day trading on Monday, reaching $35.64. 774,083 shares of the company were exchanged, compared to its average volume of 687,634. Tri Pointe Homes, Inc. has a 1 year low of $33.24 and a 1 year high of $47.78. The firm has a 50-day moving average of $37.64 and a 200 day moving average of $41.25. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 0.59 and a beta of 1.64. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes declared that its board has initiated a stock buyback program on Wednesday, December 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now owns 708,159 shares of the company's stock, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.