American International Group Inc. raised its holdings in Third Point Reinsurance Ltd (NYSE:TPRE) by 24.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,185 shares of the insurance provider’s stock after purchasing an additional 11,543 shares during the quarter. American International Group Inc. owned 0.06% of Third Point Reinsurance worth $923,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Rhumbline Advisers raised its position in Third Point Reinsurance by 4.6% in the second quarter. Rhumbline Advisers now owns 86,854 shares of the insurance provider’s stock valued at $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% in the 1st quarter. Teachers Advisors LLC now owns 137,380 shares of the insurance provider’s stock valued at $1,662,000 after buying an additional 4,251 shares during the period. Voya Investment Management LLC raised its holdings in shares of Third Point Reinsurance by 16.0% in the 2nd quarter. Voya Investment Management LLC now owns 31,087 shares of the insurance provider’s stock valued at $432,000 after buying an additional 4,296 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Third Point Reinsurance by 11.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,386 shares of the insurance provider’s stock valued at $769,000 after buying an additional 5,808 shares during the period. Finally, California State Teachers Retirement System raised its holdings in shares of Third Point Reinsurance by 4.5% in the 2nd quarter. California State Teachers Retirement System now owns 136,079 shares of the insurance provider’s stock valued at $1,891,000 after buying an additional 5,894 shares during the period. Institutional investors own 74.58% of the company’s stock.
In related news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 36.93% of the company’s stock.
TPRE has been the topic of several research analyst reports. Zacks Investment Research upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Friday, January 5th. ValuEngine downgraded Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Morgan Stanley boosted their price objective on Third Point Reinsurance from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 price objective on shares of Third Point Reinsurance in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Third Point Reinsurance currently has a consensus rating of “Hold” and a consensus target price of $17.33.
Third Point Reinsurance Ltd (TPRE) traded up $0.15 during mid-day trading on Friday, hitting $14.15. The company had a trading volume of 686,832 shares, compared to its average volume of 1,061,989. Third Point Reinsurance Ltd has a 52-week low of $11.05 and a 52-week high of $17.10. The stock has a market cap of $1,510.00, a P/E ratio of 7.95, a PEG ratio of 0.45 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.68 and a quick ratio of 0.68.
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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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