Insider Selling: Anthony Urban Sells 60,000 Shares of Third Point Reinsurance Stock (TPRE)
Third Point Reinsurance (NASDAQ:TPRE) EVP Anthony Urban sold 60,000 shares of the stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $15.03, for a total value of $901,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Third Point Reinsurance (NASDAQ:TPRE) traded down 0.27% on Wednesday, hitting $15.05. 233,861 shares of the company’s stock traded hands. Third Point Reinsurance has a 52 week low of $12.25 and a 52 week high of $18.84. The stock’s 50-day moving average is $15.39 and its 200-day moving average is $15.6. The company has a market cap of $1.554 billion and a P/E ratio of 7.88.
Third Point Reinsurance (NASDAQ:TPRE) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.03. On average, analysts predict that Third Point Reinsurance will post $1.71 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Third Point Reinsurance from an “underperform” rating to a “neutral” rating in a research note on Friday, August 8th. They now have a $15.10 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Third Point Reinsurance in a research note on Wednesday, July 23rd. They now have a $19.00 price target on the stock, up previously from $17.00. Finally, analysts at Citigroup Inc. initiated coverage on shares of Third Point Reinsurance in a research note on Monday, July 7th. They set a “neutral” rating and a $16.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.60.
Third Point Reinsurance Ltd. (NASDAQ:TPRE) is a property and casualty reinsurance company.
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