ValuEngine upgraded shares of Third Point Reinsurance Ltd. (NYSE:TPRE) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Third Point Reinsurance from a hold rating to a buy rating in a report on Friday, June 23rd. Keefe, Bruyette & Woods reiterated a buy rating and issued a $16.50 target price on shares of Third Point Reinsurance in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Third Point Reinsurance from a hold rating to a buy rating and set a $15.00 target price on the stock in a report on Saturday, July 8th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $15.00 target price (up from $14.00) on shares of Third Point Reinsurance in a report on Friday, July 7th. Four analysts have rated the stock with a hold rating, one has given 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.

Shares of Third Point Reinsurance (TPRE) opened at 15.30 on Friday. The firm’s 50-day moving average is $14.31 and its 200 day moving average is $13.23. Third Point Reinsurance has a 52 week low of $11.05 and a 52 week high of $16.10. The firm has a market capitalization of $1.58 billion, a P/E ratio of 7.92 and a beta of 1.24.

Third Point Reinsurance (NYSE:TPRE) last posted its 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. 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%. Equities research analysts forecast that Third Point Reinsurance will post $2.72 EPS for the current fiscal year.

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Several large investors have recently modified their holdings of TPRE. Capital World Investors raised its holdings in shares of Third Point Reinsurance by 23.3% during the second quarter. Capital World Investors now owns 5,325,506 shares of the insurance provider’s stock worth $74,025,000 after acquiring an additional 1,008,053 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Third Point Reinsurance during the second quarter worth $12,817,000. JPMorgan Chase & Co. raised its holdings in shares of Third Point Reinsurance by 1,824.6% during the second quarter. JPMorgan Chase & Co. now owns 869,101 shares of the insurance provider’s stock worth $12,081,000 after acquiring an additional 823,943 shares during the period. Teachers Advisors LLC raised its holdings in shares of Third Point Reinsurance by 461.3% during the second quarter. Teachers Advisors LLC now owns 771,100 shares of the insurance provider’s stock worth $10,718,000 after acquiring an additional 633,720 shares during the period. Finally, Numeric Investors LLC acquired a new stake in shares of Third Point Reinsurance during the second quarter worth $8,173,000. Institutional investors and hedge funds own 68.70% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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