Shares of Third Point Reinsurance Ltd (NYSE:TPRE) have received a consensus rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $15.00.

Several research analysts have weighed in on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price target (up from $14.00) on shares of Third Point Reinsurance in a report on Friday, July 7th. Zacks Investment Research raised shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Saturday, July 8th. BidaskClub cut shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. TheStreet raised shares of Third Point Reinsurance from a “c” rating to a “b-” rating in a report on Thursday, May 4th. Finally, ValuEngine cut shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd.

In related news, CFO Christopher S. Coleman sold 5,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $12.75, for a total transaction of $63,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel V. Malloy sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $12.65, for a total transaction of $253,000.00. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $1,510,550 over the last ninety days. Insiders own 36.93% of the company’s stock.

Several hedge funds have recently bought and sold shares of TPRE. NN Investment Partners Holdings N.V. purchased a new stake in Third Point Reinsurance during the second quarter valued at about $435,000. Fox Run Management L.L.C. purchased a new stake in Third Point Reinsurance during the second quarter valued at about $150,000. Bank of America Corp DE raised its stake in Third Point Reinsurance by 5.4% in the first quarter. Bank of America Corp DE now owns 397,006 shares of the insurance provider’s stock valued at $4,804,000 after buying an additional 20,419 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Third Point Reinsurance by 5.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 272,790 shares of the insurance provider’s stock valued at $3,301,000 after buying an additional 13,266 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in Third Point Reinsurance by 57.8% in the first quarter. Citadel Advisors LLC now owns 364,002 shares of the insurance provider’s stock valued at $4,404,000 after buying an additional 133,276 shares in the last quarter. Institutional investors and hedge funds own 68.69% of the company’s stock.

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Shares of Third Point Reinsurance (NYSE TPRE) remained flat at $13.85 during trading on Tuesday. 426,153 shares of the stock were exchanged. The firm has a 50 day moving average price of $13.20 and a 200 day moving average price of $12.23. The stock has a market cap of $1.45 billion, a P/E ratio of 8.03 and a beta of 1.22. Third Point Reinsurance has a 52-week low of $11.05 and a 52-week high of $14.55.

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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