United Services Automobile Association raised its holdings in Third Point Reinsurance Ltd (NYSE:TPRE) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,570 shares of the insurance provider’s stock after acquiring an additional 6,758 shares during the quarter. United Services Automobile Association’s holdings in Third Point Reinsurance were worth $381,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in TPRE. Quantbot Technologies LP grew its stake in shares of Third Point Reinsurance by 121.4% during the 3rd quarter. Quantbot Technologies LP now owns 17,435 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 9,559 shares during the period. Dimensional Fund Advisors LP boosted its stake in Third Point Reinsurance by 22.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,139,674 shares of the insurance provider’s stock worth $53,816,000 after purchasing an additional 751,308 shares during the period. Hsbc Holdings PLC bought a new position in Third Point Reinsurance in the 3rd quarter worth approximately $711,000. Renaissance Technologies LLC boosted its stake in Third Point Reinsurance by 122.9% in the 3rd quarter. Renaissance Technologies LLC now owns 422,567 shares of the insurance provider’s stock worth $5,493,000 after purchasing an additional 233,000 shares during the period. Finally, Laurion Capital Management LP bought a new position in Third Point Reinsurance in the 3rd quarter worth approximately $623,000. 63.70% of the stock is currently owned by hedge funds and other institutional investors.
NYSE TPRE opened at $10.90 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.05 billion, a PE ratio of -3.33, a PEG ratio of 0.26 and a beta of 1.02. Third Point Reinsurance Ltd has a one year low of $8.85 and a one year high of $14.40.Several research firms have weighed in on TPRE. Zacks Investment Research downgraded Third Point Reinsurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Finally, TheStreet downgraded Third Point Reinsurance from a “c” rating to a “d+” rating in a research note on Thursday, February 28th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $12.50.
Third Point Reinsurance 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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