GSA Capital Partners LLP purchased a new position in Third Point Reinsurance Ltd. (NYSE:TPRE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 22,888 shares of the insurance provider’s stock, valued at approximately $318,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Aviance Capital Partners LLC increased its stake in Third Point Reinsurance by 2.3% in the 2nd 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 in the last quarter. American International Group Inc. increased its stake in Third Point Reinsurance by 7.0% in the 1st 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 in the last quarter. Rhumbline Advisers increased its stake in Third Point Reinsurance by 4.6% in the 2nd 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 in the last quarter. Teachers Advisors LLC increased its stake in Third Point Reinsurance by 3.2% in the 1st 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 in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Third Point Reinsurance by 650.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,093 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 7,015 shares in the last quarter. 68.70% of the stock is currently owned by hedge funds and other institutional investors.

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Third Point Reinsurance Ltd. (NYSE TPRE) opened at 16.40 on Tuesday. The firm’s 50-day moving average price is $14.97 and its 200 day moving average price is $13.70. Third Point Reinsurance Ltd. has a 1-year low of $11.05 and a 1-year high of $16.52. The stock has a market cap of $1.69 billion, a PE ratio of 8.48 and a beta of 1.26.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 EPS for the quarter, topping 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 return on equity of 13.56% and a net margin of 22.18%. Equities research analysts expect that Third Point Reinsurance Ltd. will post $2.75 EPS for the current year.

A number of equities analysts recently weighed in on TPRE shares. BidaskClub raised Third Point Reinsurance from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Zacks Investment Research raised Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $16.50 price target on shares of Third Point Reinsurance in a research note on Tuesday, September 12th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price target (up previously from $14.00) on shares of Third Point Reinsurance in a research note on Friday, July 7th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.13.

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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