Northern Trust Corp increased its position in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) by 12.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 939,596 shares of the insurance provider’s stock after purchasing an additional 102,669 shares during the period. Northern Trust Corp owned approximately 0.88% of Third Point Reinsurance worth $13,060,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its holdings in Third Point Reinsurance by 650.7% in the second quarter. BNP Paribas Arbitrage SA now owns 8,093 shares of the insurance provider’s stock valued at $112,000 after buying an additional 7,015 shares in the last quarter. SG Americas Securities LLC purchased a new position in Third Point Reinsurance in the second quarter valued at about $122,000. Fox Run Management L.L.C. purchased a new position in Third Point Reinsurance in the second quarter valued at about $150,000. Campbell & CO Investment Adviser LLC purchased a new position in Third Point Reinsurance in the second quarter valued at about $169,000. Finally, Citigroup Inc. increased its holdings in Third Point Reinsurance by 235.0% in the second quarter. Citigroup Inc. now owns 15,304 shares of the insurance provider’s stock valued at $212,000 after buying an additional 10,736 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.
Third Point Reinsurance (NYSE:TPRE) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $280.88 million during the quarter. Third Point Reinsurance had a net margin of 22.18% and a return on equity of 13.56%.
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A number of brokerages have issued reports on TPRE. Keefe, Bruyette & Woods cut shares of Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Zacks Investment Research raised shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Thursday, October 5th. ValuEngine raised shares of Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. Finally, BidaskClub raised shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.13.
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.
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