Third Point Reinsurance Ltd. (TPRE) Position Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) by 30.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,789 shares of the insurance provider’s stock after buying an additional 134,167 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Third Point Reinsurance were worth $6,967,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its stake 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 worth $37,422,000 after buying an additional 440,948 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Third Point Reinsurance by 3.2% in the first quarter. Teachers Advisors LLC now owns 137,380 shares of the insurance provider’s stock worth $1,662,000 after buying an additional 4,251 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Third Point Reinsurance during the first quarter worth approximately $330,000. United Services Automobile Association raised its stake in shares of Third Point Reinsurance by 12.3% in the first quarter. United Services Automobile Association now owns 972,070 shares of the insurance provider’s stock worth $11,762,000 after buying an additional 106,590 shares in the last quarter. Finally, AXA raised its stake in shares of Third Point Reinsurance by 2.9% in the first quarter. AXA now owns 154,400 shares of the insurance provider’s stock worth $1,868,000 after buying an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

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

Third Point Reinsurance Ltd. (NYSE TPRE) traded up 0.175% during midday trading on Friday, reaching $14.325. The company’s stock had a trading volume of 180,378 shares. The stock has a market cap of $1.50 billion, a P/E ratio of 8.304 and a beta of 1.23. Third Point Reinsurance Ltd. has a 12-month low of $11.00 and a 12-month high of $14.35. The stock’s 50 day moving average is $12.79 and its 200 day moving average is $12.11.

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Several equities research analysts have commented on the company. ValuEngine lowered Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods upgraded Third Point Reinsurance from a “mkt perform” rating to an “outperform” rating in a research report on Monday, May 15th. TheStreet upgraded Third Point Reinsurance from a “c” rating to a “b-” rating in a research report on Thursday, May 4th. Finally, Zacks Investment Research upgraded Third Point Reinsurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 1st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $14.33.

In related news, insider Daniel V. Malloy sold 20,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $12.65, for a total value of $253,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher S. Coleman sold 5,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $12.75, for a total value of $63,750.00. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $1,510,550 over the last 90 days. Company insiders own 36.93% of the company’s stock.

Third Point Reinsurance Company Profile

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.

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