Todays Report: Today: First Trust Advisors LP Acquires Shares of 22,202 Third Point Reinsurance Ltd. (TPRE)

Today: First Trust Advisors LP Acquires Shares of 22,202 Third Point Reinsurance Ltd. (TPRE)

First Trust Advisors LP bought a new stake in Third Point Reinsurance Ltd. (NYSE:TPRE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,202 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. increased its position in shares of Third Point Reinsurance by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,779,864 shares of the company’s stock valued at $20,237,000 after buying an additional 18,006 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Third Point Reinsurance by 20.9% in the first quarter. Goldman Sachs Group Inc. now owns 845,881 shares of the company’s stock worth $9,617,000 after buying an additional 146,406 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Third Point Reinsurance by 1,774.5% in the second quarter. Wedge Capital Management L L P NC now owns 694,045 shares of the company’s stock worth $43,482,000 after buying an additional 657,020 shares during the last quarter. AXA increased its stake in Third Point Reinsurance by 8,425.5% in the first quarter. AXA now owns 125,240 shares of the company’s stock worth $1,424,000 after buying an additional 123,771 shares during the last quarter. Finally, Swiss National Bank increased its stake in Third Point Reinsurance by 2.4% in the second quarter. Swiss National Bank now owns 100,400 shares of the company’s stock worth $1,177,000 after buying an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.

Third Point Reinsurance Ltd. (NYSE:TPRE) traded down 0.24% on Monday, reaching $12.30. The company’s stock had a trading volume of 3,479 shares. The firm’s 50-day moving average price is $12.37 and its 200-day moving average price is $11.91. Third Point Reinsurance Ltd. has a 52-week low of $10.08 and a 52-week high of $14.42. The stock’s market cap is $1.30 billion.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by $0.11. The business earned $196.90 million during the quarter, compared to analysts’ expectations of $197.10 million. Third Point Reinsurance had a negative net margin of 28.67% and a negative return on equity of 11.02%. On average, equities analysts expect that Third Point Reinsurance Ltd. will post $1.07 earnings per share for the current year.

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Third Point Reinsurance from $13.00 to $14.00 and gave the stock a “market perform” rating in a research note on Monday, August 1st. Zacks Investment Research raised Third Point Reinsurance from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, July 6th. JPMorgan Chase & Co. lifted their price objective on Third Point Reinsurance from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Finally, TheStreet raised Third Point Reinsurance from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.00.

In other news, insider Anthony Urban sold 225,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $12.36, for a total value of $2,781,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 36.10% of the stock is currently owned by insiders.

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 operates through two segments: Property and Casualty Reinsurance, and Catastrophe Risk Management.

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