Insight 2811 Inc. Has $401,000 Stock Holdings in Third Point Reinsurance Ltd (NYSE:TPRE)

Insight 2811 Inc. decreased its holdings in shares of Third Point Reinsurance Ltd (NYSE:TPRE) by 7.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,620 shares of the insurance provider’s stock after selling 3,000 shares during the quarter. Insight 2811 Inc.’s holdings in Third Point Reinsurance were worth $401,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in Third Point Reinsurance by 92.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,809 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 1,351 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in Third Point Reinsurance in the fourth quarter valued at approximately $28,000. Bank of Montreal Can boosted its stake in Third Point Reinsurance by 59.8% in the fourth quarter. Bank of Montreal Can now owns 5,010 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 1,874 shares during the period. Magnus Financial Group LLC acquired a new position in Third Point Reinsurance in the fourth quarter valued at approximately $105,000. Finally, Everence Capital Management Inc. acquired a new position in Third Point Reinsurance in the fourth quarter valued at approximately $144,000. Institutional investors and hedge funds own 67.25% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. ValuEngine cut Third Point Reinsurance from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Zacks Investment Research raised Third Point Reinsurance from a “strong sell” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Wednesday, March 6th. Finally, TheStreet raised Third Point Reinsurance from a “d+” rating to a “c-” rating in a report on Tuesday, May 14th.

NYSE:TPRE traded up $0.20 during trading hours on Monday, reaching $10.52. The company’s stock had a trading volume of 371,200 shares, compared to its average volume of 648,382. The company has a market cap of $987.22 million, a P/E ratio of -3.22, a price-to-earnings-growth ratio of 0.23 and a beta of 1.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09. Third Point Reinsurance Ltd has a one year low of $8.85 and a one year high of $14.40. The business has a 50-day moving average of $10.43.

Third Point Reinsurance (NYSE:TPRE) last posted its earnings results on Thursday, May 9th. The insurance provider reported $1.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.44 by ($0.01). The company had revenue of $308.00 million for the quarter. Sell-side analysts forecast that Third Point Reinsurance Ltd will post 3.05 EPS 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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Institutional Ownership by Quarter for Third Point Reinsurance (NYSE:TPRE)

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