Ajo LP bought a new stake in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 312,272 shares of the insurance provider’s stock, valued at approximately $4,341,000. Ajo LP owned 0.29% of Third Point Reinsurance as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in Third Point Reinsurance by 650.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,093 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 7,015 shares during the period. SG Americas Securities LLC purchased a new position in Third Point Reinsurance during the 2nd quarter valued at about $122,000. Fox Run Management L.L.C. purchased a new position in Third Point Reinsurance during the 2nd quarter valued at about $150,000. Campbell & CO Investment Adviser LLC purchased a new position in Third Point Reinsurance during the 2nd quarter valued at about $169,000. Finally, Principal Financial Group Inc. purchased a new position in Third Point Reinsurance during the 2nd quarter valued at about $267,000. 68.74% of the stock is currently owned by institutional investors and hedge funds.

Third Point Reinsurance Ltd. (NYSE:TPRE) opened at 14.40 on Friday. Third Point Reinsurance Ltd. has a 12 month low of $11.05 and a 12 month high of $15.10. The stock has a 50 day moving average of $14.31 and a 200-day moving average of $13.18. The stock has a market cap of $1.49 billion, a P/E ratio of 7.45 and a beta of 1.24.

Third Point Reinsurance (NYSE:TPRE) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The firm had revenue of $280.88 million for the quarter. Third Point Reinsurance had a net margin of 22.18% and a return on equity of 13.56%. On average, equities analysts forecast that Third Point Reinsurance Ltd. will post $2.65 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Third Point Reinsurance in a research report on Tuesday, September 12th. BidaskClub raised shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Zacks Investment Research downgraded shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective (up previously from $14.00) on shares of Third Point Reinsurance in a research report on Friday, July 7th. Finally, ValuEngine downgraded shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Third Point Reinsurance presently has a consensus rating of “Hold” and a consensus target price of $15.38.

In related news, insider J. Robert Bredahl sold 80,000 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 36.93% of the stock is owned by company insiders.

Third Point Reinsurance 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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