Media stories about Third Point Reinsurance (NYSE:TPRE) have been trending somewhat positive on Friday, according to Accern. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Third Point Reinsurance earned a news impact score of 0.04 on Accern’s scale. Accern also assigned news stories about the insurance provider an impact score of 46.5872338282329 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Shares of Third Point Reinsurance (NYSE TPRE) opened at $14.20 on Friday. 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 has a fifty-two week low of $11.05 and a fifty-two week high of $17.10. The firm has a market capitalization of $1,520.00, a price-to-earnings ratio of 7.98, a P/E/G ratio of 0.47 and a beta of 1.27.
Third Point Reinsurance (NYSE:TPRE) last issued its quarterly earnings results on Wednesday, November 8th. The insurance provider reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). Third Point Reinsurance had a return on equity of 12.12% and a net margin of 20.78%. analysts anticipate that Third Point Reinsurance will post 2.71 EPS for the current year.
A number of brokerages recently issued reports on TPRE. Keefe, Bruyette & Woods downgraded Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Zacks Investment Research downgraded Third Point Reinsurance from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. ValuEngine downgraded Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Finally, Morgan Stanley increased their price objective on Third Point Reinsurance from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.33.
In related news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $15.57, for a total transaction of $233,550,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 36.93% of the stock is owned by company insiders.
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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