Principal Financial Group Inc. Has $15.97 Million Stock Position in Tri Pointe Homes Inc. (NYSE:TPH)

Principal Financial Group Inc. increased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 500,398 shares of the construction company's stock after buying an additional 14,298 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of Tri Pointe Homes worth $15,973,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its stake in Tri Pointe Homes by 9.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,272 shares of the construction company's stock worth $296,000 after acquiring an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Tri Pointe Homes by 57.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company's stock worth $252,000 after purchasing an additional 2,875 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Tri Pointe Homes during the 1st quarter worth $300,000. HighTower Advisors LLC purchased a new position in Tri Pointe Homes in the fourth quarter valued at approximately $5,553,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in Tri Pointe Homes by 3.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 27,396 shares of the construction company's stock valued at $874,000 after buying an additional 801 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tri Pointe Homes

In other news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the sale, the chief executive officer owned 627,833 shares in the company, valued at approximately $18,929,164.95. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wedbush upgraded shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $38.00 to $43.00 in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.60.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock traded down $1.42 during midday trading on Tuesday, hitting $32.71. The company's stock had a trading volume of 1,518,444 shares, compared to its average volume of 926,131. The stock's 50-day moving average price is $31.35 and its 200-day moving average price is $32.52. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.97 billion, a PE ratio of 7.27, a price-to-earnings-growth ratio of 0.89 and a beta of 1.25. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month high of $47.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.25. The company had revenue of $720.79 million for the quarter, compared to analysts' expectations of $713.65 million. Tri Pointe Homes had a return on equity of 12.97% and a net margin of 10.02%. The business's revenue for the quarter was down 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. Analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

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.