Affinity Investment Advisors LLC boosted its holdings in Third Point Reinsurance Ltd (NYSE:TPRE) by 40.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,222 shares of the insurance provider’s stock after purchasing an additional 9,520 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Third Point Reinsurance were worth $432,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Third Point Reinsurance in the 2nd quarter valued at about $219,000. LMR Partners LLP bought a new position in Third Point Reinsurance in the 2nd quarter valued at about $222,000. First Hawaiian Bank bought a new stake in shares of Third Point Reinsurance during the 3rd quarter valued at approximately $255,000. MYDA Advisors LLC bought a new stake in shares of Third Point Reinsurance during the 2nd quarter valued at approximately $250,000. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Third Point Reinsurance by 35.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 22,588 shares of the insurance provider’s stock valued at $282,000 after purchasing an additional 5,900 shares during the last quarter. Institutional investors and hedge funds own 72.72% of the company’s stock.
In other Third Point Reinsurance news, insider Nicholas J. D. Campbell bought 5,000 shares of Third Point Reinsurance stock in a transaction on Thursday, November 15th. The shares were purchased at an average cost of $10.29 per share, with a total value of $51,450.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Daniel S. Loeb sold 800,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $13.15, for a total transaction of $10,520,000.00. Following the sale, the insider now directly owns 1,293,591 shares in the company, valued at $17,010,721.65. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.
Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings results on Tuesday, November 6th. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The company had revenue of $124.40 million for the quarter. Third Point Reinsurance had a net margin of 3.89% and a return on equity of 1.50%. Equities research analysts forecast that Third Point Reinsurance Ltd will post -1.67 EPS for the current year.
Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. Zacks Investment Research raised shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, Morgan Stanley set a $13.00 price target on shares of Third Point Reinsurance and gave the company a “hold” rating in a report on Monday, November 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Third Point Reinsurance presently has a consensus rating of “Hold” and an average price target of $15.75.
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Third Point Reinsurance Company Profile
Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners, workers compensation, personal automobile, mortgage, and multi-line reinsurance; professional, transactional, and general liability reinsurance; and marine, travel, and extended warranty reinsurance products.
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