SG Americas Securities LLC purchased a new position in Third Point Reinsurance Ltd. (NYSE:TPRE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,809 shares of the insurance provider’s stock, valued at approximately $122,000.

Other large investors have also bought and sold shares of the company. Aviance Capital Partners LLC raised its stake in Third Point Reinsurance by 2.3% during the second quarter. Aviance Capital Partners LLC now owns 114,409 shares of the insurance provider’s stock worth $1,590,000 after purchasing an additional 2,543 shares during the period. American International Group Inc. raised its stake in Third Point Reinsurance by 7.0% during the first quarter. American International Group Inc. now owns 40,679 shares of the insurance provider’s stock worth $492,000 after purchasing an additional 2,674 shares during the period. Rhumbline Advisers raised its stake in Third Point Reinsurance by 4.6% during the second quarter. Rhumbline Advisers now owns 86,854 shares of the insurance provider’s stock worth $1,207,000 after purchasing an additional 3,853 shares during the period. Teachers Advisors LLC raised its stake in Third Point Reinsurance by 3.2% during the first quarter. Teachers Advisors LLC now owns 137,380 shares of the insurance provider’s stock worth $1,662,000 after purchasing an additional 4,251 shares during the period. Finally, AXA raised its stake in Third Point Reinsurance by 2.9% during the first quarter. AXA now owns 154,400 shares of the insurance provider’s stock worth $1,868,000 after purchasing an additional 4,300 shares during the period. 68.70% of the stock is currently owned by hedge funds and other institutional investors.

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Third Point Reinsurance Ltd. (TPRE) opened at 15.35 on Tuesday. The firm’s 50-day moving average is $14.31 and its 200-day moving average is $13.23. The stock has a market capitalization of $1.59 billion, a P/E ratio of 7.94 and a beta of 1.24. Third Point Reinsurance Ltd. has a 52 week low of $11.05 and a 52 week high of $16.10.

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 the Zacks’ consensus estimate of $0.70 by $0.01. The company 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 research analysts predict that Third Point Reinsurance Ltd. will post $2.72 EPS for the current fiscal year.

A number of brokerages have commented on TPRE. ValuEngine raised shares of Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a research note on Friday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $16.50 target price on shares of Third Point Reinsurance in a research note on Tuesday, September 12th. BidaskClub raised shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Zacks Investment Research downgraded shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 target price (up from $14.00) on shares of Third Point Reinsurance in a research note on Friday, July 7th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Third Point Reinsurance has an average rating of “Buy” and an average target price of $15.38.

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.

Institutional Ownership by Quarter for Third Point Reinsurance (NYSE:TPRE)

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