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Platinum Underwriters Reaches New 52-Week High (PTP)

By TheStreet Wire 06/07/12 - 01:51 PM EDT

Find out if (PTP) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Platinum Underwriters Holdings (NYSE:PTP) hit a new 52-week high Thursday as it is currently trading at $37.72, above its previous 52-week high of $37.64 with 106,606 shares traded as of 1:25 p.m. ET. Average volume has been 273,500 shares over the past 30 days.

Platinum Underwriters has a market cap of $1.28 billion and is part of the financial sector and insurance industry. Shares are up 7.7% year to date as of the close of trading on Wednesday.

Platinum Underwriters Holdings, Ltd., through its subsidiaries, provides property and marine, casualty, and finite risk reinsurance coverage products worldwide. It operates in three segments: Property and Marine, Casualty, and Finite Risk.

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TheStreet Ratings rates Platinum Underwriters as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow. You can view the full Platinum Underwriters Ratings Report.

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