Third Point Reinsurance Ltd. (NYSE:TPRE) insider Anthony Urban sold 225,000 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $12.36, for a total value of $2,781,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Third Point Reinsurance Ltd. (NYSE:TPRE) opened at 12.12 on Tuesday. Third Point Reinsurance Ltd. has a one year low of $10.08 and a one year high of $14.42. The stock’s market cap is $1.28 billion. The stock’s 50 day moving average price is $12.66 and its 200 day moving average price is $11.79.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.11. The firm had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $197.10 million. Third Point Reinsurance had a negative net margin of 28.67% and a negative return on equity of 11.02%. Analysts forecast that Third Point Reinsurance Ltd. will post $1.02 earnings per share for the current year.

Several brokerages have issued reports on TPRE. Zacks Investment Research cut Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. TheStreet cut Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Keefe, Bruyette & Woods increased their target price on Third Point Reinsurance from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on Third Point Reinsurance from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Third Point Reinsurance currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Several hedge funds have recently added to or reduced their stakes in TPRE. Stevens Capital Management LP purchased a new stake in Third Point Reinsurance during the second quarter valued at approximately $125,000. Nomura Holdings Inc. purchased a new stake in shares of Third Point Reinsurance during the second quarter worth about $131,000. LMR Partners LLP purchased a new stake in shares of Third Point Reinsurance during the second quarter worth about $153,000. Quantitative Systematic Strategies LLC raised its stake in shares of Third Point Reinsurance by 4.8% in the second quarter. Quantitative Systematic Strategies LLC now owns 14,397 shares of the company’s stock worth $163,000 after buying an additional 654 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Third Point Reinsurance by 11.5% in the second quarter. Parametric Portfolio Associates LLC now owns 19,314 shares of the company’s stock worth $226,000 after buying an additional 1,993 shares during the last quarter. 70.74% of the stock is currently owned by hedge funds and other institutional investors.

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 operates through two segments: Property and Casualty Reinsurance, and Catastrophe Risk Management.

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