Third Point Reinsurance (TPRE) Upgraded to C- by TheStreet

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Third Point Reinsurance (NYSE:TPRE) was upgraded by investment analysts at TheStreet from a “d+” rating to a “c-” rating in a report released on Tuesday, TheStreetRatingsTable reports.

Several other equities research analysts have also issued reports on TPRE. ValuEngine lowered shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Zacks Investment Research upgraded shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Wednesday, March 27th.

TPRE stock traded up $0.19 during trading on Tuesday, hitting $10.78. 18,886 shares of the company’s stock traded hands, compared to its average volume of 700,110. Third Point Reinsurance has a 52 week low of $8.85 and a 52 week high of $14.40. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $966.50 million, a P/E ratio of -3.30, a price-to-earnings-growth ratio of 0.22 and a beta of 1.06.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings data on Thursday, May 9th. The insurance provider reported $1.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by ($0.01). The business had revenue of $308.00 million for the quarter. Third Point Reinsurance had a net margin of 3.89% and a negative return on equity of 11.24%. As a group, analysts anticipate that Third Point Reinsurance will post 3.05 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Third Point Reinsurance by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,276,417 shares of the insurance provider’s stock valued at $54,769,000 after purchasing an additional 311,102 shares during the period. State Treasurer State of Michigan purchased a new position in Third Point Reinsurance during the 1st quarter valued at about $43,596,000. JPMorgan Chase & Co. increased its position in Third Point Reinsurance by 18.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,842,392 shares of the insurance provider’s stock valued at $19,124,000 after purchasing an additional 283,722 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Third Point Reinsurance by 9.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,804,684 shares of the insurance provider’s stock valued at $18,734,000 after purchasing an additional 151,188 shares during the period. Finally, Norges Bank purchased a new position in Third Point Reinsurance during the 4th quarter valued at about $16,566,000. Hedge funds and other institutional investors own 68.49% of the company’s stock.

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' and commercial, workers' compensation, personal automobile, mortgage, and multi-line reinsurance products; professional, transactional, and general liability reinsurance products; and marine, travel, and extended warranty reinsurance products.

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