Schwab Charles Investment Management Inc. increased its stake in Third Point Reinsurance Ltd. (NYSE:TPRE) by 5.1% during the first quarter, Holdings Channel reports. The institutional investor owned 272,790 shares of the insurance provider’s stock after buying an additional 13,266 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Third Point Reinsurance were worth $3,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of 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 valued at $5,887,000 after buying an additional 418,767 shares in the last quarter. Norges Bank bought a new position in shares of Third Point Reinsurance during the fourth quarter valued at about $8,499,000. Teachers Advisors LLC increased 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. Russell Investments Group Ltd. increased 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. Finally, Chicago Equity Partners LLC increased its position in shares of Third Point Reinsurance by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 48,490 shares of the insurance provider’s stock valued at $587,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.

Shares of Third Point Reinsurance Ltd. (TPRE) traded down 0.35% on Friday, reaching $14.35. The company’s stock had a trading volume of 66,934 shares. Third Point Reinsurance Ltd. has a 1-year low of $11.05 and a 1-year high of $15.10. The stock has a market capitalization of $1.48 billion, a PE ratio of 7.42 and a beta of 1.23. The stock has a 50-day moving average of $14.31 and a 200 day moving average of $12.87.

Third Point Reinsurance (NYSE:TPRE) last posted its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.71 EPS for the quarter, topping 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 firm had revenue of $280.88 million during the quarter. On average, equities analysts forecast that Third Point Reinsurance Ltd. will post $2.69 EPS for the current year.

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TPRE has been the subject of several research reports. TheStreet upgraded Third Point Reinsurance from a “c” rating to a “b-” rating in a research report on Thursday, May 4th. Keefe, Bruyette & Woods upgraded Third Point Reinsurance from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $14.00 to $15.00 in a research report on Monday, May 8th. ValuEngine downgraded Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, Morgan Stanley restated an “equal weight” rating and set a $15.00 price objective (up from $14.00) on shares of Third Point Reinsurance in a research report on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $15.38.

In other Third Point Reinsurance news, insider Daniel V. Malloy sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $12.65, for a total value of $253,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider J. Robert Bredahl sold 80,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was 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. Insiders sold a total of 110,000 shares of company stock valued at $1,510,550 in the last ninety days. Company insiders own 36.93% of the company’s stock.

About Third Point Reinsurance

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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