Third Point Reinsurance Ltd (TPRE) Given Average Recommendation of “Hold” by Brokerages

Shares of Third Point Reinsurance Ltd (NYSE:TPRE) have been assigned an average rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.00.

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 price target on shares of Third Point Reinsurance in a research report on Wednesday, December 6th. Zacks Investment Research lowered Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. ValuEngine lowered Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. BidaskClub lowered Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Morgan Stanley increased their price target on Third Point Reinsurance from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th.

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 filing with the Securities & Exchange Commission, which is available through the SEC website. 36.93% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the company. 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 purchasing an additional 1,008,053 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Third Point Reinsurance by 4.7% during the second quarter. Vanguard Group Inc. now owns 4,907,325 shares of the insurance provider’s stock worth $68,213,000 after acquiring an additional 221,683 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Third Point Reinsurance by 28.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,573,099 shares of the insurance provider’s stock worth $24,540,000 after acquiring an additional 345,858 shares during the last quarter. State Street Corp grew its stake in shares of Third Point Reinsurance by 13.1% during the second quarter. State Street Corp now owns 1,357,110 shares of the insurance provider’s stock worth $18,860,000 after purchasing an additional 157,443 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Third Point Reinsurance by 308.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,026,288 shares of the insurance provider’s stock worth $16,009,000 after purchasing an additional 774,808 shares during the period. 74.59% of the stock is currently owned by institutional investors.

Third Point Reinsurance (TPRE) traded down $0.15 during midday trading on Friday, reaching $14.75. The company’s stock had a trading volume of 828,900 shares, compared to its average volume of 673,520. The stock has a market cap of $1,620.00, a PE ratio of 8.47, a PEG ratio of 0.34 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 0.68. Third Point Reinsurance has a 52-week low of $11.05 and a 52-week high of $17.10.

TRADEMARK VIOLATION WARNING: “Third Point Reinsurance Ltd (TPRE) Given Average Recommendation of “Hold” by Brokerages” was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.com-unik.info/2017/12/15/third-point-reinsurance-ltd-tpre-given-average-recommendation-of-hold-by-brokerages.html.

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.

Receive News & Ratings for Third Point Reinsurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Third Point Reinsurance and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit