Polar Capital LLP raised its position in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) by 5.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,000,000 shares of the company’s stock after buying an additional 50,000 shares during the period. Polar Capital LLP’s holdings in Third Point Reinsurance were worth $12,000,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of TPRE. LMR Partners LLP acquired a new position in Third Point Reinsurance during the second quarter worth about $153,000. Quantitative Systematic Strategies LLC raised its stake in shares of Third Point Reinsurance by 4.8% in the second quarter. Quantitative Systematic Strategies LLC now owns 14,397 shares of the company’s stock worth $163,000 after buying an additional 654 shares during the period. First Trust Advisors LP purchased a new stake in shares of Third Point Reinsurance during the second quarter worth $260,000. UBS Asset Management Americas Inc. raised its stake in shares of Third Point Reinsurance by 29.9% in the third quarter. UBS Asset Management Americas Inc. now owns 43,400 shares of the company’s stock worth $521,000 after buying an additional 10,000 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Third Point Reinsurance during the third quarter worth $958,000. Institutional investors own 71.32% of the company’s stock.
Third Point Reinsurance Ltd. (NYSE:TPRE) opened at 11.90 on Friday. The stock has a 50 day moving average price of $11.51 and a 200 day moving average price of $12.10. Third Point Reinsurance Ltd. has a 52-week low of $10.08 and a 52-week high of $13.03. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.74 and a beta of 1.18.
A number of brokerages have weighed in on TPRE. Zacks Investment Research lowered Third Point Reinsurance from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 5th. J P Morgan Chase & Co reaffirmed a “hold” rating and set a $15.00 target price on shares of Third Point Reinsurance in a research report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Third Point Reinsurance currently has a consensus rating of “Hold” and a consensus target price of $14.25.
In related news, major shareholder Brook Lvr L.P. Pine sold 50,309 shares of the stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $11.42, for a total value of $574,528.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 1,104,969 shares of company stock valued at $12,717,863. Insiders own 36.10% 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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