Third Point Reinsurance Ltd. (TPRE) Receives $17.50 Consensus Target Price from Analysts

Third Point Reinsurance Ltd. (NYSE:TPRE) has been given an average rating of “Buy” by the six analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $17.50.

A number of equities research analysts have recently commented on TPRE shares. BidaskClub raised Third Point Reinsurance from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $16.50 price target on shares of Third Point Reinsurance in a research report on Friday, August 4th. Zacks Investment Research lowered Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. ValuEngine raised Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 22nd. Finally, Morgan Stanley raised their price target on Third Point Reinsurance from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th.

Third Point Reinsurance (TPRE) remained flat at $$16.75 during midday trading on Monday. The stock had a trading volume of 590,000 shares, compared to its average volume of 657,781. The company has a market cap of $1,800.00, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 0.37 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.68 and a quick ratio of 0.68. Third Point Reinsurance has a fifty-two week low of $11.05 and a fifty-two week high of $17.10.

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In other news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $15.57, for a total transaction of $233,550,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 36.93% of the company’s stock.

A number of institutional investors have recently made changes to their positions in TPRE. Capital World Investors raised its position in Third Point Reinsurance by 23.3% in the 2nd quarter. Capital World Investors now owns 5,325,506 shares of the insurance provider’s stock valued at $74,025,000 after buying an additional 1,008,053 shares during the last quarter. Systematic Financial Management LP acquired a new stake in Third Point Reinsurance in the 2nd quarter valued at approximately $12,817,000. JPMorgan Chase & Co. raised its position in Third Point Reinsurance by 1,824.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 869,101 shares of the insurance provider’s stock valued at $12,081,000 after buying an additional 823,943 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Third Point Reinsurance by 308.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,026,288 shares of the insurance provider’s stock valued at $16,009,000 after buying an additional 774,808 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Third Point Reinsurance by 461.3% in the 2nd quarter. Teachers Advisors LLC now owns 771,100 shares of the insurance provider’s stock valued at $10,718,000 after buying an additional 633,720 shares during the last quarter. 68.91% of the stock is currently owned by institutional investors and hedge funds.

About Third Point Reinsurance

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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