Platinum Underwriters Holdings Ltd. (PTP): Today's Featured Insurance Loser
Platinum Underwriters Holdings (PTP) pushed the Insurance industry lower today making it today's featured Insurance loser. The industry as a whole closed the day up 1.1%. By the end of trading, Platinum Underwriters Holdings fell 20 cents (-0.6%) to $34.95 on average volume. Throughout the day, 311,350 shares of Platinum Underwriters Holdings exchanged hands as compared to its average daily volume of 396,400 shares. The stock ranged in price between $34.83-$35.36 after having opened the day at $35.35 as compared to the previous trading day's close of $35.15. Other company's within the Insurance industry that declined today were: National Security Group (NSEC), down 8.7%, Universal Insurance Holdings Inc (UVE), down 5.9%, Tower Group Inc (TWGP), down 5.3%, and Global Indemnity (GBLI), down 5%. Platinum Underwriters Holdings, Ltd., through its subsidiaries, provides property and marine, casualty, and finite risk reinsurance products worldwide. Platinum Underwriters Holdings has a market cap of $1.3 billion and is part of the financial sector. Shares are down 22.2% year to date as of the close of trading on Monday. TheStreet Ratings rates Platinum Underwriters as a hold. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
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