Sumitomo Mitsui Trust Group Inc. Has $307,000 Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,472 shares of the construction company’s stock after buying an additional 700 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Tri Pointe Homes were worth $307,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TPH. Raymond James & Associates lifted its position in Tri Pointe Homes by 19.2% during the third quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after acquiring an additional 33,629 shares during the last quarter. Geode Capital Management LLC lifted its position in Tri Pointe Homes by 3.2% during the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after acquiring an additional 76,830 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Tri Pointe Homes by 404.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock worth $1,987,000 after acquiring an additional 35,162 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after acquiring an additional 1,024,425 shares during the last quarter. Finally, Atria Investments Inc lifted its position in Tri Pointe Homes by 30.0% during the third quarter. Atria Investments Inc now owns 15,839 shares of the construction company’s stock worth $718,000 after acquiring an additional 3,653 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

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

Tri Pointe Homes Trading Up 0.5 %

NYSE:TPH opened at $36.17 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a 50-day moving average of $36.98 and a 200-day moving average of $40.93. The company has a market cap of $3.39 billion, a PE ratio of 7.50, a PEG ratio of 0.59 and a beta of 1.64. Tri Pointe Homes, Inc. has a one year low of $33.24 and a one year high of $47.78.

Tri Pointe Homes declared that its Board of Directors has approved a share repurchase program on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.