ValuEngine downgraded shares of Third Point Reinsurance (NYSE:TPRE) from a strong-buy rating to a buy rating in a research report report published on Thursday.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reissued a market perform rating and issued a $16.50 target price on shares of Third Point Reinsurance in a report on Thursday, October 12th. Morgan Stanley boosted their target price on Third Point Reinsurance from $15.00 to $17.00 and gave the stock an equal weight rating in a report on Friday, November 10th. Zacks Investment Research raised Third Point Reinsurance from a hold rating to a buy rating and set a $18.00 target price on the stock in a report on Thursday, October 5th. Finally, BidaskClub raised Third Point Reinsurance from a sell rating to a hold rating in a report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $18.00.

Shares of Third Point Reinsurance (NYSE:TPRE) traded down $0.20 during midday trading on Thursday, reaching $15.15. 508,400 shares of the company’s stock were exchanged, compared to its average volume of 669,445. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.07. Third Point Reinsurance has a 1 year low of $11.05 and a 1 year high of $17.10. The company has a market capitalization of $1,669.81, a PE ratio of 8.84, a P/E/G ratio of 0.35 and a beta of 1.27.

In other Third Point Reinsurance news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of Third Point Reinsurance stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $15.57, for a total transaction of $233,550,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 36.93% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TPRE. Capital World Investors lifted its position in Third Point Reinsurance by 23.3% during the 2nd quarter. Capital World Investors now owns 5,325,506 shares of the insurance provider’s stock worth $74,025,000 after acquiring an additional 1,008,053 shares during the last quarter. Systematic Financial Management LP bought a new position in shares of Third Point Reinsurance during the 2nd quarter worth about $12,817,000. JPMorgan Chase & Co. increased its holdings in shares of Third Point Reinsurance by 1,824.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 869,101 shares of the insurance provider’s stock worth $12,081,000 after purchasing an additional 823,943 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Third Point Reinsurance by 308.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,026,288 shares of the insurance provider’s stock worth $16,009,000 after purchasing an additional 774,808 shares during the period. Finally, Teachers Advisors LLC increased its stake in Third Point Reinsurance by 461.3% in the second quarter. Teachers Advisors LLC now owns 771,100 shares of the insurance provider’s stock valued at $10,718,000 after acquiring an additional 633,720 shares during the period. 74.59% of the stock is owned by institutional investors and hedge funds.

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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’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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