BNP Paribas Arbitrage SA grew its stake in Third Point Reinsurance Ltd. (NYSE:TPRE) by 650.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,093 shares of the insurance provider’s stock after purchasing an additional 7,015 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Third Point Reinsurance were worth $112,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Citadel Advisors LLC lifted its holdings in shares of 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 purchasing an additional 133,276 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Third Point Reinsurance by 380.3% in the first quarter. Prudential Financial Inc. now owns 78,383 shares of the insurance provider’s stock valued at $949,000 after purchasing an additional 62,065 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Third Point Reinsurance by 16.6% in the first quarter. TIAA CREF Investment Management LLC now owns 3,092,764 shares of the insurance provider’s stock valued at $37,422,000 after purchasing an additional 440,948 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Third Point Reinsurance by 284.0% in the second quarter. Russell Investments Group Ltd. now owns 268,566 shares of the insurance provider’s stock valued at $3,733,000 after purchasing an additional 198,624 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Third Point Reinsurance by 52.9% in the first quarter. Dimensional Fund Advisors LP now owns 779,205 shares of the insurance provider’s stock valued at $9,428,000 after purchasing an additional 269,525 shares in the last quarter. Institutional investors own 68.70% of the company’s stock.

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A number of research analysts have recently weighed in on TPRE shares. Morgan Stanley restated an “equal weight” rating and issued a $15.00 target price (up previously from $14.00) on shares of Third Point Reinsurance in a report on Friday, July 7th. Zacks Investment Research upgraded 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 upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $16.50 price target on shares of Third Point Reinsurance in a report on Tuesday, September 12th. Finally, ValuEngine upgraded Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Third Point Reinsurance has a consensus rating of “Buy” and an average target price of $15.38.

Shares of Third Point Reinsurance Ltd. (NYSE TPRE) opened at 15.60 on Friday. Third Point Reinsurance Ltd. has a one year low of $11.05 and a one year high of $16.10. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 8.07 and a beta of 1.24. The company’s 50-day moving average price is $14.31 and its 200-day moving average price is $13.23.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.01. The business had revenue of $280.88 million for the quarter. Third Point Reinsurance had a return on equity of 13.56% and a net margin of 22.18%. On average, equities research analysts predict that Third Point Reinsurance Ltd. will post $2.72 earnings per share for the current year.

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

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