Strs Ohio purchased a new position in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 61,900 shares of the insurance provider’s stock, valued at approximately $965,000. Strs Ohio owned 0.06% of Third Point Reinsurance at the end of the most recent reporting period.
Several other large investors have also modified their holdings of TPRE. Chicago Equity Partners LLC grew its holdings in Third Point Reinsurance by 707.8% during the second quarter. Chicago Equity Partners LLC now owns 391,720 shares of the insurance provider’s stock valued at $5,445,000 after purchasing an additional 343,230 shares during the period. Russell Investments Group Ltd. lifted its stake in Third Point Reinsurance by 284.0% in the second quarter. Russell Investments Group Ltd. now owns 268,566 shares of the insurance provider’s stock valued at $3,733,000 after buying an additional 198,624 shares in the last quarter. GSA Capital Partners LLP bought a new position in Third Point Reinsurance in the second quarter valued at approximately $318,000. Systematic Financial Management LP bought a new position in Third Point Reinsurance in the second quarter valued at approximately $12,817,000. Finally, Dimensional Fund Advisors LP lifted its stake in Third Point Reinsurance by 52.9% in the first quarter. Dimensional Fund Advisors LP now owns 779,205 shares of the insurance provider’s stock valued at $9,428,000 after buying an additional 269,525 shares in the last quarter. Institutional investors own 70.65% of the company’s stock.
Shares of Third Point Reinsurance Ltd. (NYSE TPRE) opened at $16.80 on Tuesday. The firm has a market cap of $1,800.00, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.42 and a beta of 1.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.07. Third Point Reinsurance Ltd. has a 52-week low of $11.05 and a 52-week high of $17.10.
A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Third Point Reinsurance from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods lowered shares of Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, October 5th. ValuEngine upgraded shares of Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. Finally, BidaskClub upgraded shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Three equities research 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. The stock presently has an average rating of “Buy” and a consensus price target of $17.17.
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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.
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