Vanguard Group Inc. Purchases 297,061 Shares of Third Point Reinsurance Ltd. (TPRE)

Vanguard Group Inc. boosted its position in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,685,642 shares of the insurance provider’s stock after buying an additional 297,061 shares during the period. Vanguard Group Inc. owned approximately 4.44% of Third Point Reinsurance worth $56,696,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Chicago Equity Partners LLC raised its stake in Third Point Reinsurance by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 48,490 shares of the insurance provider’s stock worth $587,000 after buying an additional 250 shares in the last quarter. Insight 2811 Inc. raised its stake in Third Point Reinsurance by 0.5% in the first quarter. Insight 2811 Inc. now owns 63,420 shares of the insurance provider’s stock worth $767,000 after buying an additional 300 shares in the last quarter. American International Group Inc. raised its stake in Third Point Reinsurance by 7.0% in the first quarter. American International Group Inc. now owns 40,679 shares of the insurance provider’s stock worth $492,000 after buying an additional 2,674 shares in the last quarter. Teachers Advisors LLC raised its stake in 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. Finally, AXA raised its stake in 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. Institutional investors own 66.85% of the company’s stock.

Third Point Reinsurance Ltd. (NYSE TPRE) opened at 14.30 on Friday. The firm has a 50-day moving average of $14.32 and a 200 day moving average of $12.89. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 7.40 and a beta of 1.23. Third Point Reinsurance Ltd. has a one year low of $11.05 and a one year high of $15.10.

Third Point Reinsurance (NYSE:TPRE) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.01. Third Point Reinsurance had a return on equity of 13.56% and a net margin of 22.18%. The business had revenue of $280.88 million for the quarter. Equities research analysts predict that Third Point Reinsurance Ltd. will post $2.69 earnings per share for the current fiscal year.

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Several research analysts have commented on TPRE shares. TheStreet upgraded shares of Third Point Reinsurance from a “c” rating to a “b-” rating in a report on Thursday, May 4th. Keefe, Bruyette & Woods upgraded shares of Third Point Reinsurance from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $14.00 to $15.00 in a report on Monday, May 8th. ValuEngine lowered shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Third Point Reinsurance from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $15.00 price objective (up from $14.00) on shares of Third Point Reinsurance in a report on Friday, July 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $15.38.

In related news, insider J. Robert Bredahl sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $14.11, for a total value of $1,128,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Christopher S. Coleman sold 5,000 shares of the company’s stock in a transaction that occurred 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 have sold 110,000 shares of company stock worth $1,510,550 in the last 90 days. 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.

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

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