Allianz Asset Management GmbH Purchases 34,371 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Allianz Asset Management GmbH boosted its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 810,904 shares of the construction company’s stock after acquiring an additional 34,371 shares during the quarter. Allianz Asset Management GmbH owned 0.87% of Tri Pointe Homes worth $29,403,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new position in shares of Tri Pointe Homes during the third quarter worth $45,000. Venturi Wealth Management LLC increased its stake in Tri Pointe Homes by 562.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock valued at $81,000 after buying an additional 1,900 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Tri Pointe Homes by 51.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after buying an additional 789 shares during the last quarter. Blue Trust Inc. grew its position in shares of Tri Pointe Homes by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock valued at $107,000 after acquiring an additional 594 shares during the period. Finally, KBC Group NV boosted its holdings in Tri Pointe Homes by 65.9% in the 4th quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock worth $154,000 after buying an additional 1,690 shares during the period. 97.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on TPH shares. Oppenheimer lowered their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Evercore ISI dropped their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Hold” and an average target price of $40.60.

Tri Pointe Homes Stock Down 1.6 %

Shares of Tri Pointe Homes stock opened at $30.79 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78. The firm’s 50-day moving average is $36.16 and its two-hundred day moving average is $40.55. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.67 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. As a group, research analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

About Tri Pointe Homes

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.