Third Point Reinsurance (NYSE:TPRE) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Separately, Zacks Investment Research upgraded shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Thursday, July 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.75.

NYSE:TPRE traded down $0.40 during trading hours on Wednesday, hitting $12.70. 782,000 shares of the company were exchanged, compared to its average volume of 622,120. The company has a market cap of $1.32 billion, a PE ratio of 4.83, a P/E/G ratio of 1.35 and a beta of 1.11. Third Point Reinsurance has a 52-week low of $12.27 and a 52-week high of $17.10. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.07.

Third Point Reinsurance (NYSE:TPRE) last released its earnings results on Tuesday, July 31st. The insurance provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The company had revenue of $172.67 million for the quarter, compared to the consensus estimate of $122.59 million. Third Point Reinsurance had a net margin of 13.15% and a return on equity of 5.66%. analysts expect that Third Point Reinsurance will post 0.65 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in TPRE. Wells Fargo & Company MN lifted its stake in Third Point Reinsurance by 16.2% during the 1st quarter. Wells Fargo & Company MN now owns 951,485 shares of the insurance provider’s stock valued at $13,272,000 after acquiring an additional 132,945 shares during the period. Rhumbline Advisers lifted its stake in shares of Third Point Reinsurance by 3.2% in the 1st quarter. Rhumbline Advisers now owns 191,813 shares of the insurance provider’s stock valued at $2,676,000 after purchasing an additional 5,869 shares during the period. SG Americas Securities LLC acquired a new position in shares of Third Point Reinsurance in the 1st quarter valued at $333,000. Prudential Financial Inc. lifted its stake in shares of Third Point Reinsurance by 5.6% in the 1st quarter. Prudential Financial Inc. now owns 182,660 shares of the insurance provider’s stock valued at $2,548,000 after purchasing an additional 9,717 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Third Point Reinsurance by 10.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 463,705 shares of the insurance provider’s stock valued at $6,469,000 after purchasing an additional 42,222 shares during the period. Institutional investors and hedge funds own 72.05% of the company’s stock.

Third Point Reinsurance Company Profile

Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners, workers compensation, personal automobile, mortgage, and multi-line reinsurance; professional, transactional, and general liability reinsurance; and marine, travel, and extended warranty reinsurance products.

Further Reading: Compound Annual Growth Rate (CAGR)

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