Platinum Underwriters Stock Hits New 52-Week Low (PTP)

NEW YORK ( TheStreet) -- Platinum Underwriters Holdings (NYSE: PTP) hit a new 52-week low Friday as it is currently trading at $33.66, below its previous 52-week high of $46.42 with 3,699 shares traded as of 9:34 a.m. ET. Average volume has been 408,300 shares over the past 30 days.

Platinum Underwriters has a market cap of $1.3 billion and is part of the financial sector and insurance industry. Shares are down 24.3% year to date as of the close of trading on Thursday.

Platinum Underwriters Holdings, Ltd., through its subsidiaries, provides property and marine, casualty, and finite risk reinsurance products worldwide. The company has a P/E ratio of 130.8, above the average insurance industry P/E ratio of 97.2 and above the S&P 500 P/E ratio of 17.7.
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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 largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Platinum Underwriters Ratings Report.

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