Corebridge Financial Inc. Sells 3,839 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Corebridge Financial Inc. cut its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,137 shares of the construction company’s stock after selling 3,839 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of Tri Pointe Homes worth $1,782,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TPH. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tri Pointe Homes by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,670 shares of the construction company’s stock worth $10,678,000 after purchasing an additional 3,488 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Tri Pointe Homes by 27.6% during the 3rd quarter. Captrust Financial Advisors now owns 6,931 shares of the construction company’s stock worth $314,000 after acquiring an additional 1,499 shares in the last quarter. Verition Fund Management LLC lifted its position in Tri Pointe Homes by 75.8% during the third quarter. Verition Fund Management LLC now owns 69,414 shares of the construction company’s stock valued at $3,145,000 after acquiring an additional 29,935 shares during the last quarter. Paloma Partners Management Co boosted its stake in Tri Pointe Homes by 119.1% in the third quarter. Paloma Partners Management Co now owns 15,772 shares of the construction company’s stock valued at $715,000 after acquiring an additional 8,572 shares in the last quarter. Finally, Centiva Capital LP grew its holdings in Tri Pointe Homes by 60.7% in the third quarter. Centiva Capital LP now owns 16,480 shares of the construction company’s stock worth $747,000 after purchasing an additional 6,225 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TPH. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Oppenheimer dropped 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 report on Wednesday, February 19th. Finally, Evercore ISI decreased their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Trading Up 0.8 %

Shares of Tri Pointe Homes stock opened at $32.46 on Thursday. The firm has a fifty day moving average price of $33.55 and a 200 day moving average price of $38.45. The stock has a market cap of $2.98 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78. 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 (NYSE:TPH) last posted its earnings results 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Equities research analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

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

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.