Engineers Gate Manager LP Boosts Holdings in Third Point Reinsurance Ltd (TPRE)

Engineers Gate Manager LP grew its stake in Third Point Reinsurance Ltd (NYSE:TPRE) by 32.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,780 shares of the insurance provider’s stock after buying an additional 19,854 shares during the period. Engineers Gate Manager LP owned 0.08% of Third Point Reinsurance worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its stake in shares of Third Point Reinsurance by 59.1% in the first quarter. Xact Kapitalforvaltning AB now owns 16,688 shares of the insurance provider’s stock valued at $233,000 after buying an additional 6,200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Third Point Reinsurance in the second quarter valued at about $219,000. LMR Partners LLP acquired a new stake in shares of Third Point Reinsurance in the second quarter valued at about $222,000. First Hawaiian Bank acquired a new stake in shares of Third Point Reinsurance in the third quarter valued at about $255,000. Finally, MYDA Advisors LLC acquired a new stake in shares of Third Point Reinsurance in the second quarter valued at about $250,000. 66.70% of the stock is owned by institutional investors.

Several equities research analysts recently commented on TPRE shares. Zacks Investment Research raised Third Point Reinsurance from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. ValuEngine raised Third Point Reinsurance from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Third Point Reinsurance currently has an average rating of “Hold” and a consensus target price of $16.75.

NYSE TPRE opened at $11.38 on Friday. Third Point Reinsurance Ltd has a one year low of $10.27 and a one year high of $17.10. The company has a market cap of $1.15 billion, a P/E ratio of 4.33, a price-to-earnings-growth ratio of 3.67 and a beta of 1.15. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.07.

Third Point Reinsurance (NYSE:TPRE) last released its earnings results on Tuesday, November 6th. The insurance provider reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. Third Point Reinsurance had a return on equity of 1.47% and a net margin of 3.89%. The business had revenue of $124.40 million during the quarter. As a group, research analysts predict that Third Point Reinsurance Ltd will post 0.21 EPS for the current fiscal year.

In other Third Point Reinsurance news, major shareholder Daniel S. Loeb sold 800,000 shares of the stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $13.15, for a total value of $10,520,000.00. Following the transaction, the insider now owns 1,293,591 shares in the company, valued at $17,010,721.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.10% of the stock is currently owned by corporate insiders.

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About Third Point Reinsurance

Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners, workers compensation, personal automobile, mortgage, and multi-line reinsurance; professional, transactional, and general liability reinsurance; and marine, travel, and extended warranty reinsurance products.

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Institutional Ownership by Quarter for Third Point Reinsurance (NYSE:TPRE)

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