The Brook Lvr L.P. Pine Sells 50,309 Shares of Third Point Reinsurance Ltd. (TPRE) Stock

The Brook Lvr L.P. Pine Sells 50,309 Shares of Third Point Reinsurance Ltd. (TPRE) Stock

Third Point Reinsurance Ltd. (NYSE:TPRE) major shareholder Brook Lvr L.P. Pine sold 50,309 shares of the business’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $11.42, for a total transaction of $574,528.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Brook Lvr L.P. Pine also recently made the following trade(s):

Shares of Third Point Reinsurance Ltd. (NYSE:TPRE) traded up 0.45% during midday trading on Wednesday, hitting $11.25. 187,437 shares of the stock traded hands. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.15 and a beta of 1.18. Third Point Reinsurance Ltd. has a 52 week low of $10.08 and a 52 week high of $13.03. The firm’s 50-day moving average is $11.77 and its 200 day moving average is $12.20.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.10. Third Point Reinsurance had a net margin of 15.99% and a return on equity of 8.30%. Equities analysts forecast that Third Point Reinsurance Ltd. will post $0.21 earnings per share for the current year.

A number of equities analysts have weighed in on TPRE shares. Zacks Investment Research raised shares of Third Point Reinsurance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 30th. J P Morgan Chase & Co reaffirmed a “hold” rating and issued a $15.00 target price on shares of Third Point Reinsurance in a research note on Friday, November 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.25.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Third Point Reinsurance by 0.5% in the second quarter. Vanguard Group Inc. now owns 4,022,080 shares of the company’s stock worth $47,139,000 after buying an additional 20,197 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Third Point Reinsurance by 0.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,648,070 shares of the company’s stock worth $43,777,000 after buying an additional 12,500 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Third Point Reinsurance by 5.3% in the third quarter. TIAA CREF Investment Management LLC now owns 2,386,979 shares of the company’s stock worth $28,644,000 after buying an additional 119,244 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Third Point Reinsurance by 7.8% in the third quarter. BlackRock Fund Advisors now owns 1,709,995 shares of the company’s stock worth $20,520,000 after buying an additional 123,409 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Third Point Reinsurance by 0.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,670,099 shares of the company’s stock worth $20,041,000 after buying an additional 12,108 shares during the last quarter. Institutional investors and hedge funds own 71.52% of the company’s stock.

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

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