Third Point Reinsurance (NYSE:TPRE) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Third Point Reinsurance (NYSE:TPRE) from a hold rating to a buy rating in a report issued on Monday, April 1st, 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 note on Thursday, February 28th. Zacks Investment Research raised shares of Third Point Reinsurance from a strong sell rating to a buy rating and set a $13.00 price target for the company in a research report on Wednesday, March 6th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $12.50.

Shares of NYSE:TPRE traded up $0.11 during trading on Monday, reaching $11.09. The stock had a trading volume of 689,823 shares, compared to its average volume of 727,272. The stock has a market capitalization of $1.03 billion, a P/E ratio of -3.39, a P/E/G ratio of 0.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. Third Point Reinsurance has a one year low of $8.85 and a one year high of $14.40.

A number of institutional investors and hedge funds have recently made changes to their positions in TPRE. Schroder Investment Management Group acquired a new position in shares of Third Point Reinsurance during the 3rd quarter valued at about $13,285,000. Quantbot Technologies LP boosted its position in shares of Third Point Reinsurance by 121.4% during the 3rd quarter. Quantbot Technologies LP now owns 17,435 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 9,559 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Third Point Reinsurance by 22.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,139,674 shares of the insurance provider’s stock valued at $53,816,000 after acquiring an additional 751,308 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Third Point Reinsurance during the 3rd quarter valued at about $711,000. Finally, Renaissance Technologies LLC lifted its position in Third Point Reinsurance by 122.9% in the third quarter. Renaissance Technologies LLC now owns 422,567 shares of the insurance provider’s stock valued at $5,493,000 after buying an additional 233,000 shares during the last quarter. 63.70% of the stock is currently owned by institutional investors.

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.

See Also: Closed-End Mutual Funds

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.