Third Point Reinsurance Ltd. (NYSE:TPRE) has been given a consensus rating of “Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.50.

A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Third Point Reinsurance from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Zacks Investment Research raised shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Saturday, July 8th. TheStreet raised shares of Third Point Reinsurance from a “c” rating to a “b-” rating in a research note on Thursday, May 4th. Keefe, Bruyette & Woods raised shares of Third Point Reinsurance from a “mkt perform” rating to an “outperform” rating in a research note on Monday, May 15th. Finally, ValuEngine lowered shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd.

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Shares of Third Point Reinsurance (NYSE TPRE) traded down 0.34% during trading on Friday, reaching $14.45. 386,384 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $14.29 and its 200-day moving average price is $12.78. The stock has a market cap of $1.49 billion, a PE ratio of 7.48 and a beta of 1.23. Third Point Reinsurance has a 52-week low of $11.05 and a 52-week high of $15.10.

Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Third Point Reinsurance had a net margin of 22.18% and a return on equity of 13.56%. The firm had revenue of $280.88 million during the quarter. On average, equities research analysts forecast that Third Point Reinsurance will post $2.69 EPS for the current year.

In other news, CFO Christopher S. Coleman sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $13.00, for a total value of $65,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider J. Robert Bredahl sold 80,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $14.11, for a total transaction of $1,128,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,000 shares of company stock worth $1,510,550. Insiders own 36.93% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Third Point Reinsurance by 57.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,227,241 shares of the insurance provider’s stock worth $17,059,000 after buying an additional 448,036 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Third Point Reinsurance during the second quarter valued at about $167,000. Parametric Portfolio Associates LLC raised its position in shares of Third Point Reinsurance by 21.4% in the second quarter. Parametric Portfolio Associates LLC now owns 70,858 shares of the insurance provider’s stock valued at $985,000 after buying an additional 12,476 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Third Point Reinsurance by 4.7% in the second quarter. Vanguard Group Inc. now owns 4,907,325 shares of the insurance provider’s stock valued at $68,213,000 after buying an additional 221,683 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Third Point Reinsurance by 12.3% in the second quarter. Northern Trust Corp now owns 939,596 shares of the insurance provider’s stock valued at $13,060,000 after buying an additional 102,669 shares in the last quarter. 67.98% of the stock is currently owned by institutional investors.

About Third Point Reinsurance

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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