Third Point Reinsurance Ltd. (NYSE:TPRE) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

TPRE has been the subject of a number of other research reports. Morgan Stanley restated an “equal weight” rating and issued a $15.00 target price (up previously from $14.00) on shares of Third Point Reinsurance in a research note on Friday, July 7th. Keefe, Bruyette & Woods upgraded Third Point Reinsurance from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $14.00 to $15.00 in a research note on Monday, May 8th. ValuEngine lowered Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Saturday, July 8th. Finally, TheStreet upgraded Third Point Reinsurance from a “c” rating to a “b-” rating in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Third Point Reinsurance currently has an average rating of “Buy” and a consensus target price of $15.38.

Shares of Third Point Reinsurance (NYSE TPRE) traded up 0.67% during mid-day trading on Thursday, hitting $15.00. The company had a trading volume of 431,196 shares. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 7.75 and a beta of 1.23. Third Point Reinsurance has a 1-year low of $11.05 and a 1-year high of $15.00. The company has a 50-day moving average price of $14.06 and a 200-day moving average price of $12.60.

Third Point Reinsurance (NYSE:TPRE) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.01. The company had revenue of $280.88 million during the quarter. Third Point Reinsurance had a return on equity of 13.78% and a net margin of 22.18%. On average, equities analysts anticipate that Third Point Reinsurance will post $2.62 EPS for the current year.

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In other news, CFO Christopher S. Coleman sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider J. Robert Bredahl sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $14.11, for a total value of $1,128,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $1,510,550 over the last 90 days. Insiders own 36.93% of the company’s stock.

Several large investors have recently bought and sold shares of TPRE. BNP Paribas Arbitrage SA boosted its stake in Third Point Reinsurance by 650.7% in 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 during the period. Legal & General Group Plc boosted its stake in Third Point Reinsurance by 60.2% in the second quarter. Legal & General Group Plc now owns 25,173 shares of the insurance provider’s stock worth $350,000 after buying an additional 9,456 shares during the period. Bank of New York Mellon Corp boosted its stake in Third Point Reinsurance by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 291,820 shares of the insurance provider’s stock worth $4,056,000 after buying an additional 12,317 shares during the period. SG Americas Securities LLC acquired a new stake in Third Point Reinsurance during the second quarter worth approximately $122,000. Finally, Dupont Capital Management Corp acquired a new stake in Third Point Reinsurance during the second quarter worth approximately $1,944,000. Hedge funds and other institutional investors own 68.89% of the company’s stock.

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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