New York State Teachers Retirement System Purchases Shares of 24,846 Third Point Reinsurance Ltd. (TPRE)

New York State Teachers Retirement System purchased a new position in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 24,846 shares of the insurance provider’s stock, valued at approximately $388,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aviance Capital Partners LLC increased its position in shares of Third Point Reinsurance by 2.3% during the second quarter. Aviance Capital Partners LLC now owns 114,409 shares of the insurance provider’s stock worth $1,590,000 after purchasing an additional 2,543 shares in the last quarter. Rhumbline Advisers increased its position in shares of Third Point Reinsurance by 4.6% during the second quarter. Rhumbline Advisers now owns 86,854 shares of the insurance provider’s stock worth $1,207,000 after purchasing an additional 3,853 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Third Point Reinsurance by 3.2% during the first quarter. Teachers Advisors LLC now owns 137,380 shares of the insurance provider’s stock worth $1,662,000 after purchasing an additional 4,251 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Third Point Reinsurance by 16.0% during the second quarter. Voya Investment Management LLC now owns 31,087 shares of the insurance provider’s stock worth $432,000 after purchasing an additional 4,296 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Third Point Reinsurance by 11.7% during the second quarter. The Manufacturers Life Insurance Company now owns 55,386 shares of the insurance provider’s stock worth $769,000 after purchasing an additional 5,808 shares in the last quarter. Hedge funds and other institutional investors own 70.65% of the company’s stock.

Third Point Reinsurance Ltd. (NYSE TPRE) opened at $15.90 on Wednesday. The firm has a market capitalization of $1,710.00, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.37 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 0.68. Third Point Reinsurance Ltd. has a 12 month low of $11.05 and a 12 month high of $17.10.

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Several analysts recently commented on TPRE shares. BidaskClub cut Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods lowered Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. ValuEngine raised Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 22nd. Finally, Morgan Stanley boosted their price objective on Third Point Reinsurance from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $17.17.

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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