Dimensional Fund Advisors LP boosted its holdings in shares of Third Point Reinsurance Ltd (NYSE:TPRE) by 28.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,573,099 shares of the insurance provider’s stock after acquiring an additional 345,858 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Third Point Reinsurance were worth $24,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Third Point Reinsurance by 650.7% during the second quarter. BNP Paribas Arbitrage SA now owns 8,093 shares of the insurance provider’s stock worth $112,000 after buying an additional 7,015 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Third Point Reinsurance during the second quarter worth $122,000. Amalgamated Bank acquired a new stake in Third Point Reinsurance during the third quarter worth $163,000. Virtu KCG Holdings LLC acquired a new stake in Third Point Reinsurance during the second quarter worth $167,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Third Point Reinsurance during the third quarter worth $185,000. Hedge funds and other institutional investors own 74.58% of the company’s stock.
TPRE has been the topic of a number of recent research reports. ValuEngine downgraded shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods downgraded shares of Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Zacks Investment Research downgraded shares of Third Point Reinsurance from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Finally, Morgan Stanley lifted their price target on shares of 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Third Point Reinsurance has an average rating of “Hold” and a consensus price target of $17.33.
Shares of Third Point Reinsurance Ltd (TPRE) opened at $14.40 on Friday. Third Point Reinsurance Ltd has a 52 week low of $11.05 and a 52 week high of $17.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $1,540.00, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 0.47 and a beta of 1.27.
Third Point Reinsurance (NYSE:TPRE) last issued its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). Third Point Reinsurance had a net margin of 20.78% and a return on equity of 12.12%. equities analysts forecast that Third Point Reinsurance Ltd will post 2.71 EPS for the current fiscal year.
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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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