APG Asset Management N.V. Takes $1.73 Million Position in Third Point Reinsurance Ltd (TPRE)

APG Asset Management N.V. bought a new stake in Third Point Reinsurance Ltd (NYSE:TPRE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 141,700 shares of the insurance provider’s stock, valued at approximately $1,729,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Voya Investment Management LLC grew its stake in Third Point Reinsurance by 16.0% in the second quarter. Voya Investment Management LLC now owns 31,087 shares of the insurance provider’s stock valued at $432,000 after purchasing an additional 4,296 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Third Point Reinsurance by 38.2% in the fourth quarter. State of Alaska Department of Revenue now owns 17,360 shares of the insurance provider’s stock worth $254,000 after buying an additional 4,800 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Third Point Reinsurance by 11.7% in the second quarter. The Manufacturers Life Insurance Company now owns 55,386 shares of the insurance provider’s stock worth $769,000 after buying an additional 5,808 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Third Point Reinsurance by 4.5% in the second quarter. California State Teachers Retirement System now owns 136,079 shares of the insurance provider’s stock worth $1,891,000 after buying an additional 5,894 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Third Point Reinsurance by 16.9% in the second quarter. Nationwide Fund Advisors now owns 58,898 shares of the insurance provider’s stock worth $819,000 after buying an additional 8,497 shares during the last quarter. Hedge funds and other institutional investors own 61.12% of the company’s stock.

In related news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of the business’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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 36.93% of the stock is currently owned by insiders.

Shares of Third Point Reinsurance Ltd (NYSE:TPRE) opened at $13.75 on Thursday. Third Point Reinsurance Ltd has a 12-month low of $11.35 and a 12-month high of $17.10. The firm has a market capitalization of $1,503.37, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.41 and a beta of 1.17. 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 (NYSE:TPRE) last announced its quarterly earnings results on Wednesday, November 8th. The insurance provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Third Point Reinsurance had a return on equity of 12.12% and a net margin of 20.78%. sell-side analysts expect that Third Point Reinsurance Ltd will post 2.71 EPS for the current fiscal year.

A number of analysts have weighed in on the company. Zacks Investment Research raised Third Point Reinsurance from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine cut Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 price target on shares of Third Point Reinsurance in a research report on Wednesday, December 6th. Finally, Morgan Stanley boosted 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. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.33.

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

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