New York State Teachers Retirement System Decreases Holdings in Third Point Reinsurance Ltd (TPRE)

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New York State Teachers Retirement System decreased its position in Third Point Reinsurance Ltd (NYSE:TPRE) by 20.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,673 shares of the insurance provider’s stock after selling 12,200 shares during the quarter. New York State Teachers Retirement System’s holdings in Third Point Reinsurance were worth $583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Element Capital Management LLC bought a new position in shares of Third Point Reinsurance during the first quarter valued at $219,000. Xact Kapitalforvaltning AB increased its holdings in shares of Third Point Reinsurance by 59.1% during the first quarter. Xact Kapitalforvaltning AB now owns 16,688 shares of the insurance provider’s stock valued at $233,000 after acquiring an additional 6,200 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of Third Point Reinsurance by 32.7% during the first quarter. Profund Advisors LLC now owns 16,970 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 4,177 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Third Point Reinsurance by 65.9% during the fourth quarter. Two Sigma Advisers LP now owns 20,400 shares of the insurance provider’s stock valued at $299,000 after acquiring an additional 8,100 shares in the last quarter. Finally, Affinity Investment Advisors LLC increased its holdings in shares of Third Point Reinsurance by 43.3% during the first quarter. Affinity Investment Advisors LLC now owns 23,702 shares of the insurance provider’s stock valued at $331,000 after acquiring an additional 7,163 shares in the last quarter. Institutional investors and hedge funds own 74.16% of the company’s stock.

Several equities analysts have recently weighed in on TPRE shares. Zacks Investment Research downgraded Third Point Reinsurance from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. ValuEngine downgraded Third Point Reinsurance from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Keefe, Bruyette & Woods upgraded Third Point Reinsurance from a “market perform” rating to an “outperform” rating in a report on Thursday, May 10th. Finally, TheStreet downgraded Third Point Reinsurance from a “b-” rating to a “c” rating in a report on Wednesday, May 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $16.75.

Shares of NYSE:TPRE opened at $13.20 on Monday. Third Point Reinsurance Ltd has a 1-year low of $12.27 and a 1-year high of $17.10. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.31 billion, a PE ratio of 5.02, a P/E/G ratio of 1.21 and a beta of 1.10.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings data on Tuesday, July 31st. The insurance provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. Third Point Reinsurance had a return on equity of 5.66% and a net margin of 13.15%. The company had revenue of $172.67 million during the quarter, compared to the consensus estimate of $122.59 million. sell-side analysts predict that Third Point Reinsurance Ltd will post 0.73 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, workers compensation, personal automobile, mortgage, and multi-line reinsurance; professional, transactional, and general liability reinsurance; 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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