Bank of New York Mellon Corp boosted its stake in Third Point Reinsurance Ltd. (NYSE:TPRE) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,820 shares of the insurance provider’s stock after acquiring an additional 12,317 shares during the period. Bank of New York Mellon Corp owned 0.28% of Third Point Reinsurance worth $4,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TPRE. Aviance Capital Partners LLC raised its holdings in shares of Third Point Reinsurance by 2.3% during the second quarter. Aviance Capital Partners LLC now owns 114,409 shares of the insurance provider’s stock worth $1,590,000 after purchasing an additional 2,543 shares during the period. American International Group Inc. raised its holdings in shares of Third Point Reinsurance by 7.0% during the first quarter. American International Group Inc. now owns 40,679 shares of the insurance provider’s stock worth $492,000 after purchasing an additional 2,674 shares during the period. Rhumbline Advisers raised its holdings in shares of Third Point Reinsurance by 4.6% during the second quarter. Rhumbline Advisers now owns 86,854 shares of the insurance provider’s stock worth $1,207,000 after purchasing an additional 3,853 shares during the period. Teachers Advisors LLC raised its holdings in shares of Third Point Reinsurance by 3.2% during the first quarter. Teachers Advisors LLC now owns 137,380 shares of the insurance provider’s stock worth $1,662,000 after purchasing an additional 4,251 shares during the period. Finally, AXA raised its holdings in shares of Third Point Reinsurance by 2.9% during the first quarter. AXA now owns 154,400 shares of the insurance provider’s stock worth $1,868,000 after purchasing an additional 4,300 shares during the period. 68.70% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Third Point Reinsurance Ltd. (NYSE:TPRE) opened at 16.20 on Friday. The firm has a market capitalization of $1.67 billion, a PE ratio of 8.38 and a beta of 1.26. Third Point Reinsurance Ltd. has a one year low of $11.05 and a one year high of $16.35. The firm’s 50 day moving average is $14.64 and its 200-day moving average is $13.52.

Third Point Reinsurance (NYSE:TPRE) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $280.88 million during 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 $2.75 earnings per share for the current fiscal year.

A number of analysts have weighed in on TPRE shares. BidaskClub raised shares of Third Point Reinsurance from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price (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. Keefe, Bruyette & Woods reissued a “buy” rating and set a $16.50 target price on shares of Third Point Reinsurance in a report on Friday, August 4th. Finally, ValuEngine raised shares of Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Third Point Reinsurance presently has an average rating of “Buy” and a consensus target price of $16.13.

Third Point Reinsurance 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.

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

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