NEW YORK ( TheStreet) -- Platinum Underwriters Holdings (NYSE: PTP) is trading at unusually high volume Wednesday with 1.2 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down $2.47 (-7.8%) at $29.30 as of 3:26 p.m. ET.

Platinum Underwriters has a market cap of $1.2 billion and is part of the financial sector and insurance industry. Shares are down 29.4% year to date as of the close of trading on Tuesday.

Platinum Underwriters Holdings, Ltd., through its subsidiaries, provides property and marine, casualty, and finite risk reinsurance products worldwide.

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 good cash flow from operations. 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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