First Manhattan Co. held its position in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the insurance provider’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Third Point Reinsurance were worth $139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Third Point Reinsurance by 460.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 509,680 shares of the insurance provider’s stock valued at $5,887,000 after buying an additional 418,767 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Third Point Reinsurance during the fourth quarter valued at $290,000. Citadel Advisors LLC raised its position in shares of Third Point Reinsurance by 57.8% in the first quarter. Citadel Advisors LLC now owns 364,002 shares of the insurance provider’s stock valued at $4,404,000 after buying an additional 133,276 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Third Point Reinsurance by 380.3% in the first quarter. Prudential Financial Inc. now owns 78,383 shares of the insurance provider’s stock valued at $949,000 after buying an additional 62,065 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Third Point Reinsurance by 16.6% in the first quarter. TIAA CREF Investment Management LLC now owns 3,092,764 shares of the insurance provider’s stock valued at $37,422,000 after buying an additional 440,948 shares during the last quarter. Institutional investors own 67.98% of the company’s stock.

Third Point Reinsurance Ltd. (TPRE) opened at 14.45 on Friday. The firm’s 50-day moving average is $14.29 and its 200 day moving average is $12.78. Third Point Reinsurance Ltd. has a 12 month low of $11.05 and a 12 month high of $15.10. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 7.48 and a beta of 1.23.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. Third Point Reinsurance had a net margin of 22.18% and a return on equity of 13.56%. The company had revenue of $280.88 million for the quarter. Equities analysts predict that Third Point Reinsurance Ltd. will post $2.69 earnings per share for the current year.

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TPRE has been the topic of several recent analyst reports. BidaskClub lowered shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Morgan Stanley restated an “equal weight” rating and set a $15.00 target price (up from $14.00) on shares of Third Point Reinsurance in a research report on Friday, July 7th. Keefe, Bruyette & Woods restated a “buy” rating and set a $16.50 target price on shares of Third Point Reinsurance in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine lowered shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $15.38.

In other Third Point Reinsurance news, insider J. Robert Bredahl sold 80,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $14.11, for a total transaction of $1,128,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher S. Coleman sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $1,510,550 over the last 90 days. 36.93% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for Third Point Reinsurance (NYSE:TPRE)

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