American Century Companies Inc. Increases Stake in Third Point Reinsurance Ltd. (TPRE)

American Century Companies Inc. lifted its stake in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) by 186.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,728 shares of the insurance provider’s stock after purchasing an additional 53,888 shares during the period. American Century Companies Inc. owned approximately 0.08% of Third Point Reinsurance worth $1,150,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TPRE. BNP Paribas Arbitrage SA lifted its position in shares of Third Point Reinsurance by 650.7% during the second quarter. BNP Paribas Arbitrage SA now owns 8,093 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 7,015 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Third Point Reinsurance during the second quarter worth approximately $122,000. Fox Run Management L.L.C. acquired a new position in shares of Third Point Reinsurance during the second quarter worth approximately $150,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Third Point Reinsurance during the second quarter worth approximately $169,000. Finally, Stevens Capital Management LP acquired a new position in shares of Third Point Reinsurance during the first quarter worth approximately $288,000. Institutional investors own 68.74% of the company’s stock.

Third Point Reinsurance Ltd. (NYSE:TPRE) opened at 14.40 on Friday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 7.45 and a beta of 1.24. The company has a 50-day moving average of $14.31 and a 200 day moving average of $13.18. Third Point Reinsurance Ltd. has a one year low of $11.05 and a one year high of $15.10.

Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.01. The company had revenue of $280.88 million for the quarter. Third Point Reinsurance had a net margin of 22.18% and a return on equity of 13.56%. On average, analysts anticipate that Third Point Reinsurance Ltd. will post $2.65 EPS for the current year.

In related news, insider J. Robert Bredahl sold 80,000 shares of Third Point Reinsurance stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $14.11, for a total transaction of $1,128,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 36.93% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on TPRE. Zacks Investment Research lowered shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $16.50 target price on shares of Third Point Reinsurance in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Morgan Stanley reiterated an “equal weight” rating and set a $15.00 target price (up from $14.00) on shares of Third Point Reinsurance in a research report on Friday, July 7th. Finally, ValuEngine lowered shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Third Point Reinsurance has a consensus rating of “Hold” and an average target price of $15.38.

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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.

Institutional Ownership by Quarter for Third Point Reinsurance (NYSE:TPRE)

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