First Manhattan Co. maintained its stake in Third Point Reinsurance Ltd. (NYSE:TPRE) during the second quarter, Holdings Channel reports. The institutional investor owned 10,000 shares of the insurance provider’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Third Point Reinsurance were worth $139,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Third Point Reinsurance by 460.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 509,680 shares of the insurance provider’s stock worth $5,887,000 after buying an additional 418,767 shares during the period. Norges Bank acquired a new position in shares of Third Point Reinsurance during the fourth quarter valued at about $8,499,000. Teachers Advisors LLC boosted its position in shares of Third Point Reinsurance by 24.9% in the fourth quarter. Teachers Advisors LLC now owns 133,129 shares of the insurance provider’s stock valued at $1,538,000 after buying an additional 26,578 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Third Point Reinsurance during the fourth quarter valued at about $290,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Third Point Reinsurance by 6,424.4% in the first quarter. Russell Investments Group Ltd. now owns 69,942 shares of the insurance provider’s stock valued at $846,000 after buying an additional 68,870 shares in the last quarter. Institutional investors own 67.98% of the company’s stock.

Third Point Reinsurance Ltd. (NYSE TPRE) opened at 14.45 on Friday. The stock has a 50 day moving average of $14.29 and a 200 day moving average of $12.78. The firm has a market cap of $1.49 billion, a PE ratio of 7.48 and a beta of 1.23. Third Point Reinsurance Ltd. has a 52 week low of $11.05 and a 52 week high of $15.10.

Third Point Reinsurance (NYSE:TPRE) last released its earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. Third Point Reinsurance had a net margin of 22.18% and a return on equity of 13.56%. The company had revenue of $280.88 million for the quarter. Analysts anticipate that Third Point Reinsurance Ltd. will post $2.69 EPS for the current year.

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TPRE has been the topic of several recent research reports. TheStreet raised shares of Third Point Reinsurance from a “c” rating to a “b-” rating in a research note on Thursday, May 4th. BidaskClub raised shares of Third Point Reinsurance from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. ValuEngine cut shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Third Point Reinsurance in a research note on Friday, August 4th. Finally, Zacks Investment Research raised shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Saturday, July 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.38.

In other Third Point Reinsurance news, CFO Christopher S. Coleman sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $13.00, for a total transaction of $65,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider J. Robert Bredahl sold 80,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $14.11, for a total transaction of $1,128,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,000 shares of company stock worth $1,510,550. Corporate insiders own 36.93% 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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Institutional Ownership by Quarter for Third Point Reinsurance (NYSE:TPRE)

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