State Street Corp lifted its stake in Third Point Reinsurance Ltd. (NYSE:TPRE) by 13.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,357,110 shares of the insurance provider’s stock after acquiring an additional 157,443 shares during the period. State Street Corp owned approximately 1.31% of Third Point Reinsurance worth $18,860,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its position in Third Point Reinsurance by 42.9% in the first quarter. Parametric Portfolio Associates LLC now owns 58,382 shares of the insurance provider’s stock worth $706,000 after purchasing an additional 17,537 shares during the period. Wellington Management Group LLP bought a new position in Third Point Reinsurance in the first quarter worth $330,000. Teachers Advisors LLC lifted its position in Third Point Reinsurance by 3.2% in 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. Vanguard Group Inc. lifted its position in Third Point Reinsurance by 6.8% in the first quarter. Vanguard Group Inc. now owns 4,685,642 shares of the insurance provider’s stock worth $56,696,000 after purchasing an additional 297,061 shares during the period. Finally, Geode Capital Management LLC lifted its position in Third Point Reinsurance by 3.0% in the first quarter. Geode Capital Management LLC now owns 457,365 shares of the insurance provider’s stock worth $5,534,000 after purchasing an additional 13,132 shares during the period. Institutional investors and hedge funds own 70.65% of the company’s stock.

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Third Point Reinsurance Ltd. (NYSE TPRE) opened at $16.40 on Friday. The company has a market capitalization of $1,761.08, a price-to-earnings ratio of 9.32, a P/E/G ratio of 0.36 and a beta of 1.28. Third Point Reinsurance Ltd. has a 12-month low of $11.05 and a 12-month high of $17.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.68 and a quick ratio of 0.68.

Several brokerages recently commented on TPRE. Zacks Investment Research raised Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Thursday, October 5th. BidaskClub raised Third Point Reinsurance from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $16.50 target price on shares of Third Point Reinsurance in a research report on Thursday, October 12th. Morgan Stanley raised their target price on Third Point Reinsurance from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. Finally, ValuEngine raised Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 22nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Third Point Reinsurance currently has an average rating of “Buy” and an average price target of $17.17.

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.

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

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