JPMorgan Chase & Co. trimmed its position in Third Point Reinsurance Ltd (NYSE:TPRE) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 852,226 shares of the insurance provider’s stock after selling 16,875 shares during the quarter. JPMorgan Chase & Co. owned about 0.79% of Third Point Reinsurance worth $13,336,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in Third Point Reinsurance by 650.7% during the second quarter. BNP Paribas Arbitrage SA now owns 8,093 shares of the insurance provider’s stock valued at $112,000 after acquiring an additional 7,015 shares in the last quarter. SG Americas Securities LLC purchased a new position in Third Point Reinsurance during the second quarter valued at approximately $122,000. Virtu KCG Holdings LLC purchased a new position in Third Point Reinsurance during the second quarter valued at approximately $167,000. Citigroup Inc. raised its position in Third Point Reinsurance by 235.0% during the second quarter. Citigroup Inc. now owns 15,304 shares of the insurance provider’s stock valued at $212,000 after acquiring an additional 10,736 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Third Point Reinsurance during the second quarter valued at approximately $224,000. Hedge funds and other institutional investors own 74.58% of the company’s stock.
Shares of Third Point Reinsurance Ltd (NYSE:TPRE) traded up $0.15 on Friday, reaching $14.15. The company’s stock had a trading volume of 686,832 shares, compared to its average volume of 1,061,989. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 0.68. Third Point Reinsurance Ltd has a one year low of $11.05 and a one year high of $17.10. The firm has a market capitalization of $1,510.00, a price-to-earnings ratio of 7.95, a P/E/G ratio of 0.45 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 the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $15.57, for a total value of $233,550,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 36.93% of the stock is currently owned by company insiders.
TPRE has been the subject of several recent research reports. ValuEngine cut Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods cut Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Friday, January 5th. Finally, Morgan Stanley lifted their price target on Third Point Reinsurance from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Third Point Reinsurance presently has an average rating of “Hold” and an average price target of $17.33.
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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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