Principal Financial Group Inc. Has $17.63 Million Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Principal Financial Group Inc. boosted its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,100 shares of the construction company's stock after purchasing an additional 16,380 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of Tri Pointe Homes worth $17,626,000 at the end of the most recent reporting period.

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

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Analyst Upgrades and Downgrades

TPH has been the subject of a number of analyst reports. Royal Bank of Canada lowered Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Oppenheimer reduced their price target on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. StockNews.com lowered Tri Pointe Homes from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Finally, Wedbush reiterated a "neutral" rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $40.60.

Tri Pointe Homes Price Performance

Shares of Tri Pointe Homes stock traded up $0.42 during trading on Friday, hitting $31.63. The stock had a trading volume of 1,436,862 shares, compared to its average volume of 861,635. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The firm has a market cap of $2.91 billion, a P/E ratio of 6.55, a PEG ratio of 0.67 and a beta of 1.64. The business has a fifty day moving average of $35.57 and a two-hundred day moving average of $40.25. Tri Pointe Homes, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $47.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. On average, sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, COO Thomas J. Mitchell sold 77,384 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now directly owns 708,159 shares of the company's stock, valued at $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company's stock.

Tri Pointe Homes Company 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.