Comerica Bank decreased its position in shares of Third Point Reinsurance Ltd (NYSE:TPRE) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,768 shares of the insurance provider’s stock after selling 4,061 shares during the quarter. Comerica Bank owned approximately 0.07% of Third Point Reinsurance worth $722,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Piedmont Investment Advisors Inc. boosted its position in Third Point Reinsurance by 5.0% during the first quarter. Piedmont Investment Advisors Inc. now owns 18,704 shares of the insurance provider’s stock valued at $194,000 after purchasing an additional 896 shares in the last quarter. Rhumbline Advisers raised its stake in Third Point Reinsurance by 0.4% in the first quarter. Rhumbline Advisers now owns 216,573 shares of the insurance provider’s stock valued at $2,248,000 after buying an additional 965 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Third Point Reinsurance by 1.3% in the second quarter. Arizona State Retirement System now owns 115,552 shares of the insurance provider’s stock worth $1,192,000 after purchasing an additional 1,435 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Third Point Reinsurance by 3.2% in the first quarter. Texas Permanent School Fund now owns 50,228 shares of the insurance provider’s stock worth $521,000 after purchasing an additional 1,545 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Third Point Reinsurance by 13.0% in the second quarter. SG Americas Securities LLC now owns 33,629 shares of the insurance provider’s stock worth $347,000 after purchasing an additional 3,880 shares during the last quarter. 65.41% of the stock is currently owned by institutional investors and hedge funds.
In other Third Point Reinsurance news, CEO Daniel V. Malloy bought 5,000 shares of Third Point Reinsurance stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $9.67 per share, for a total transaction of $48,350.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.18% of the stock is owned by insiders.
Several research analysts have recently issued reports on the company. ValuEngine cut Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 4th. Zacks Investment Research lowered Third Point Reinsurance from a “hold” rating to a “sell” rating in a report on Friday.
TPRE traded down $0.09 during trading on Friday, hitting $10.23. The company’s stock had a trading volume of 331,878 shares, compared to its average volume of 415,722. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $9.82 and its 200 day simple moving average is $10.47. The firm has a market capitalization of $950.71 million, a price-to-earnings ratio of -3.13, a P/E/G ratio of 0.22 and a beta of 1.07. Third Point Reinsurance Ltd has a twelve month low of $8.85 and a twelve month high of $13.65.
Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.11). The company had revenue of $214.58 million during the quarter. As a group, equities research analysts forecast that Third Point Reinsurance Ltd will post 3.05 earnings per share for the current fiscal year.
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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