ING Groep NV Invests $255,000 in TRI Pointe Group, Inc. (NYSE:TPH)

ING Groep NV purchased a new stake in TRI Pointe Group, Inc. (NYSE:TPH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,350 shares of the construction company’s stock, valued at approximately $255,000.

A number of other hedge funds have also bought and sold shares of the company. Meadow Creek Investment Management LLC boosted its position in TRI Pointe Group by 26.8% in the first quarter. Meadow Creek Investment Management LLC now owns 9,180 shares of the construction company’s stock worth $115,000 after buying an additional 1,938 shares during the last quarter. 1st Global Advisors Inc. boosted its position in TRI Pointe Group by 9.8% in the first quarter. 1st Global Advisors Inc. now owns 11,008 shares of the construction company’s stock worth $138,000 after buying an additional 984 shares during the last quarter. Cornerstone Financial Partners LLC purchased a new position in TRI Pointe Group during the second quarter worth about $148,000. LS Investment Advisors LLC boosted its position in TRI Pointe Group by 33.4% in the second quarter. LS Investment Advisors LLC now owns 13,083 shares of the construction company’s stock worth $173,000 after buying an additional 3,276 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in TRI Pointe Group during the first quarter worth about $178,000. 98.68% of the stock is owned by institutional investors and hedge funds.

TRI Pointe Group, Inc. (TPH) traded up 0.51% during midday trading on Friday, reaching $13.78. 1,565,871 shares of the company traded hands. The stock has a market capitalization of $2.09 billion, a P/E ratio of 16.37 and a beta of 1.66. The company has a 50 day moving average price of $13.49 and a 200-day moving average price of $12.69. TRI Pointe Group, Inc. has a one year low of $10.35 and a one year high of $14.21.

TRI Pointe Group (NYSE:TPH) last posted its earnings results on Wednesday, July 26th. The construction company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. TRI Pointe Group had a net margin of 5.77% and a return on equity of 7.32%. The business had revenue of $568.80 million for the quarter, compared to the consensus estimate of $563.72 million. During the same quarter last year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts forecast that TRI Pointe Group, Inc. will post $1.35 EPS for the current fiscal year.

TRI Pointe Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, July 26th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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A number of research firms have issued reports on TPH. TheStreet upgraded shares of TRI Pointe Group from a “c” rating to a “b-” rating in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Thursday, August 3rd. BidaskClub upgraded shares of TRI Pointe Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Citigroup Inc. cut shares of TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Thursday, July 27th. Finally, Barclays PLC cut shares of TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. TRI Pointe Group has an average rating of “Hold” and a consensus price target of $14.13.

About TRI Pointe Group

TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.

Institutional Ownership by Quarter for TRI Pointe Group (NYSE:TPH)

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