Third Point Reinsurance Ltd (NYSE:TPRE) has received an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $18.00.
Several equities analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Third Point Reinsurance from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, November 10th. Keefe, Bruyette & Woods downgraded shares of Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Thursday, October 5th. ValuEngine upgraded shares of Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 22nd. Finally, BidaskClub upgraded shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th.
In other news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $15.57, for a total transaction of $233,550,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 36.93% of the stock is currently owned by corporate insiders.
Third Point Reinsurance (TPRE) traded down $0.10 during midday trading on Friday, reaching $15.20. 625,177 shares of the company’s stock traded hands, compared to its average volume of 683,371. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.07. Third Point Reinsurance has a one year low of $11.05 and a one year high of $17.10. The firm has a market capitalization of $1,648.33, a P/E ratio of 8.72, a PEG ratio of 0.35 and a beta of 1.27.
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About Third Point Reinsurance
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.
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