Third Point Reinsurance (TPRE) Downgraded by ValuEngine

ValuEngine cut shares of Third Point Reinsurance (NYSE:TPRE) from a buy rating to a hold rating in a report released on Friday, ValuEngine reports.

A number of other research firms have also recently commented on TPRE. TheStreet cut shares of Third Point Reinsurance from a c rating to a d+ rating in a research report on Thursday, February 28th. Zacks Investment Research upgraded shares of Third Point Reinsurance from a hold rating to a buy rating and set a $12.00 price objective for the company in a research report on Wednesday, March 27th.

TPRE opened at $10.25 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. Third Point Reinsurance has a 12 month low of $8.85 and a 12 month high of $14.40. The firm has a market capitalization of $974.02 million, a P/E ratio of -3.13, a PEG ratio of 0.28 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 Zacks’ consensus estimate of $1.44 by ($0.01). Third Point Reinsurance had a net margin of 3.89% and a negative return on equity of 21.46%. The firm had revenue of $308.00 million during the quarter. As a group, sell-side analysts forecast that Third Point Reinsurance will post 2.75 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors Inc. increased its position in shares of Third Point Reinsurance by 5.0% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 18,704 shares of the insurance provider’s stock valued at $194,000 after buying an additional 896 shares in the last quarter. Rhumbline Advisers increased its position in shares of Third Point Reinsurance by 0.4% in the 1st 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 in the last quarter. Legal & General Group Plc increased its position in shares of Third Point Reinsurance by 0.7% in the 4th quarter. Legal & General Group Plc now owns 188,547 shares of the insurance provider’s stock valued at $1,811,000 after buying an additional 1,269 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Third Point Reinsurance by 92.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,809 shares of the insurance provider’s stock valued at $27,000 after buying an additional 1,351 shares in the last quarter. Finally, Texas Permanent School Fund boosted its stake in Third Point Reinsurance by 3.2% in the 1st 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 period. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Third Point Reinsurance

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.

Recommended Story: Understanding Analyst Recommendations

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Third Point Reinsurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Third Point Reinsurance and related companies with MarketBeat.com's FREE daily email newsletter.