Fmr LLC Has $560,000 Position in Third Point Reinsurance Ltd. (TPRE)

FMR LLC held its stake in Third Point Reinsurance Ltd. (NYSE:TPRE) during the first quarter, according to its most recent filing with the SEC. The fund owned 46,300 shares of the insurance provider’s stock at the end of the first quarter. FMR LLC’s holdings in Third Point Reinsurance were worth $560,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. United Services Automobile Association raised its stake in shares of Third Point Reinsurance by 12.3% in the first quarter. United Services Automobile Association now owns 972,070 shares of the insurance provider’s stock worth $11,762,000 after buying an additional 106,590 shares in the last quarter. Norges Bank bought a new stake in shares of Third Point Reinsurance during the fourth quarter worth $8,499,000. Dimensional Fund Advisors LP raised its stake in shares of Third Point Reinsurance by 460.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 509,680 shares of the insurance provider’s stock worth $5,887,000 after buying an additional 418,767 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Third Point Reinsurance by 238.1% in the first quarter. Alliancebernstein L.P. now owns 374,470 shares of the insurance provider’s stock worth $4,531,000 after buying an additional 263,700 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Third Point Reinsurance by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 279,503 shares of the insurance provider’s stock worth $3,382,000 after buying an additional 13,290 shares in the last quarter. 66.85% of the stock is owned by institutional investors.

Shares of Third Point Reinsurance Ltd. (NYSE TPRE) opened at 14.30 on Friday. Third Point Reinsurance Ltd. has a 12-month low of $11.05 and a 12-month high of $15.10. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 7.40 and a beta of 1.23. The firm’s 50-day moving average is $14.32 and its 200-day moving average is $12.89.

Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Third Point Reinsurance had a net margin of 22.18% and a return on equity of 13.56%. The firm had revenue of $280.88 million during the quarter. Analysts predict that Third Point Reinsurance Ltd. will post $2.69 earnings per share for the current fiscal year.

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TPRE has been the subject of a number of research reports. BidaskClub lowered shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price target (up previously from $14.00) on shares of Third Point Reinsurance in a report on Friday, July 7th. Zacks Investment Research lowered shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $16.50 target price on shares of Third Point Reinsurance in a report on Friday, August 4th. Finally, ValuEngine lowered shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $15.38.

In other Third Point Reinsurance news, CFO Christopher S. Coleman sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $12.75, for a total value of $63,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel V. Malloy sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $12.65, for a total transaction of $253,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock valued at $1,510,550. Corporate insiders own 36.93% of the company’s stock.

Third Point Reinsurance Company Profile

Third Point Reinsurance Ltd. is a holding company. Through the Company’s reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance and reinsurance companies. The Company’s segments include Property and Casualty Reinsurance, and Corporate. The Company’s investable assets are managed by its investment manager, Third Point LLC.

Institutional Ownership by Quarter for Third Point Reinsurance (NYSE:TPRE)

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