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.
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.
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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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