TheStreet Upgrades Third Point Reinsurance (TPRE) to “C-“

Third Point Reinsurance (NYSE:TPRE) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c-” rating in a report released on Tuesday, TheStreetRatingsTable reports.

A number of other research firms have also recently commented on TPRE. Zacks Investment Research cut shares of Third Point Reinsurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine raised shares of Third Point Reinsurance from a “hold” rating to a “buy” rating in a research note on Monday, April 1st.

Shares of Third Point Reinsurance stock opened at $10.72 on Tuesday. The stock has a market capitalization of $966.50 million, a price-to-earnings ratio of -3.28, a PEG ratio of 0.22 and a beta of 1.06. Third Point Reinsurance has a fifty-two week low of $8.85 and a fifty-two week high of $14.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.78 and a quick ratio of 0.78.

Third Point Reinsurance (NYSE:TPRE) last issued its quarterly earnings data on Thursday, May 9th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.01). The firm had revenue of $308.00 million during the quarter. Third Point Reinsurance had a negative return on equity of 11.24% and a net margin of 3.89%. On average, sell-side analysts predict that Third Point Reinsurance will post 3.05 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Third Point Reinsurance by 92.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,809 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 1,351 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in Third Point Reinsurance during the 4th quarter valued at about $28,000. Bank of Montreal Can grew its stake in Third Point Reinsurance by 59.8% during the 4th quarter. Bank of Montreal Can now owns 5,010 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 1,874 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in Third Point Reinsurance during the 4th quarter valued at about $105,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Third Point Reinsurance during the 1st quarter valued at about $121,000. 68.49% of the stock is owned by institutional investors and hedge funds.

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' and commercial, workers' compensation, personal automobile, mortgage, and multi-line reinsurance products; professional, transactional, and general liability reinsurance products; and marine, travel, and extended warranty reinsurance products.

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