Third Point Reinsurance Ltd. (NYSE:TPRE) has earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $15.50.

Several research firms have weighed in on TPRE. Zacks Investment Research downgraded Third Point Reinsurance from a “buy” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods restated a “buy” rating and issued a $16.50 price target on shares of Third Point Reinsurance in a research note on Friday, August 4th. BidaskClub upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price target (up from $14.00) on shares of Third Point Reinsurance in a research note on Friday, July 7th. Finally, ValuEngine downgraded Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd.

In other news, CFO Christopher S. Coleman sold 5,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $12.75, for a total transaction of $63,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider J. Robert Bredahl sold 80,000 shares of the stock in a transaction that occurred on 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 sold a total of 110,000 shares of company stock valued at $1,510,550 over the last 90 days. 36.93% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in Third Point Reinsurance by 380.3% in the first quarter. Prudential Financial Inc. now owns 78,383 shares of the insurance provider’s stock worth $949,000 after buying an additional 62,065 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in Third Point Reinsurance by 30.1% in the first quarter. Pacific Ridge Capital Partners LLC now owns 87,580 shares of the insurance provider’s stock worth $1,060,000 after buying an additional 20,250 shares in the last quarter. Stevens Capital Management LP purchased a new position in Third Point Reinsurance during the first quarter worth approximately $288,000. Parametric Portfolio Associates LLC increased its position in Third Point Reinsurance by 42.9% in the first quarter. Parametric Portfolio Associates LLC now owns 58,382 shares of the insurance provider’s stock worth $706,000 after buying an additional 17,537 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Third Point Reinsurance by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 279,503 shares of the insurance provider’s stock worth $3,382,000 after buying an additional 13,290 shares in the last quarter. Hedge funds and other institutional investors own 67.98% of the company’s stock.

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Shares of Third Point Reinsurance (NYSE:TPRE) traded down 0.34% on Friday, reaching $14.45. 386,384 shares of the company traded hands. The stock has a market capitalization of $1.49 billion, a P/E ratio of 7.48 and a beta of 1.23. The stock’s 50 day moving average price is $14.29 and its 200-day moving average price is $12.78. Third Point Reinsurance has a one year low of $11.05 and a one year high of $15.10.

Third Point Reinsurance (NYSE:TPRE) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Third Point Reinsurance had a return on equity of 13.56% and a net margin of 22.18%. The business had revenue of $280.88 million during the quarter. Equities analysts forecast that Third Point Reinsurance will post $2.69 earnings per share for the current fiscal year.

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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