Zacks Investment Research downgraded shares of Third Point Reinsurance Ltd. (NYSE:TPRE) from a hold rating to a strong sell rating in a report issued on Thursday morning.

According to Zacks, “Third Point Reinsurance Ltd. is a property and casualty reinsurance company. The Company operates in two segments: Property and Casualty Reinsurance and Catastrophe Risk Management. Third Point engages in underwriting property, auto, workers compensation, and crop quota share contracts for insurance and reinsurance companies. It also underwrites property catastrophe exposures and writes excess of loss catastrophe reinsurance. Third Point Reinsurance Ltd. is based in Bermuda. “

TPRE has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on shares of Third Point Reinsurance from $13.00 to $14.00 and gave the company a market perform rating in a research note on Monday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Third Point Reinsurance from $13.00 to $14.00 and gave the company a neutral rating in a research note on Thursday, July 7th. Finally, TheStreet upgraded shares of Third Point Reinsurance from a hold rating to a buy rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $14.00.

Third Point Reinsurance (NYSE:TPRE) traded up 0.99% during trading on Thursday, hitting $12.19. The company had a trading volume of 76,940 shares. The company’s 50 day moving average price is $12.43 and its 200-day moving average price is $11.87. The company’s market cap is $1.28 billion. Third Point Reinsurance has a 12 month low of $10.08 and a 12 month high of $14.42.

Third Point Reinsurance (NYSE:TPRE) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.11. Third Point Reinsurance had a negative return on equity of 11.02% and a negative net margin of 28.67%. The firm earned $196.90 million during the quarter, compared to analyst estimates of $197.10 million. Equities analysts expect that Third Point Reinsurance will post $1.07 earnings per share for the current year.

In other Third Point Reinsurance news, insider Anthony Urban sold 225,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $12.36, for a total value of $2,781,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 36.10% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TPRE. Spark Investment Management LLC purchased a new position in Third Point Reinsurance during the first quarter valued at approximately $409,000. Goldman Sachs Group Inc. boosted its position in Third Point Reinsurance by 20.9% in the first quarter. Goldman Sachs Group Inc. now owns 845,881 shares of the company’s stock valued at $9,617,000 after buying an additional 146,406 shares during the period. AXA boosted its position in Third Point Reinsurance by 8,425.5% in the first quarter. AXA now owns 125,240 shares of the company’s stock valued at $1,424,000 after buying an additional 123,771 shares during the period. Swiss National Bank boosted its position in Third Point Reinsurance by 2.4% in the second quarter. Swiss National Bank now owns 100,400 shares of the company’s stock valued at $1,177,000 after buying an additional 2,400 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in Third Point Reinsurance during the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 70.74% of the company’s stock.

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 operates through two segments: Property and Casualty Reinsurance, and Catastrophe Risk Management.

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