Wedge Capital Management L L P NC Trims Stock Position in Third Point Reinsurance Ltd (NYSE:TPRE)

Wedge Capital Management L L P NC cut its position in shares of Third Point Reinsurance Ltd (NYSE:TPRE) by 39.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,618 shares of the insurance provider’s stock after selling 10,118 shares during the period. Wedge Capital Management L L P NC’s holdings in Third Point Reinsurance were worth $156,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Third Point Reinsurance by 1.3% during the second quarter. Vanguard Group Inc. now owns 7,778,540 shares of the insurance provider’s stock valued at $80,274,000 after acquiring an additional 101,442 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Third Point Reinsurance by 138.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,391,938 shares of the insurance provider’s stock valued at $14,365,000 after acquiring an additional 807,558 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Third Point Reinsurance during the second quarter valued at about $14,003,000. Renaissance Technologies LLC increased its position in shares of Third Point Reinsurance by 198.5% during the second quarter. Renaissance Technologies LLC now owns 1,127,167 shares of the insurance provider’s stock valued at $11,632,000 after acquiring an additional 749,600 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Third Point Reinsurance by 2.2% during the second quarter. Northern Trust Corp now owns 973,974 shares of the insurance provider’s stock valued at $10,052,000 after acquiring an additional 21,038 shares during the last quarter. 65.07% of the stock is currently owned by institutional investors.

Shares of TPRE stock remained flat at $$9.71 during trading on Friday. 365,154 shares of the company were exchanged, compared to its average volume of 579,714. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08. The firm has a market cap of $930.02 million, a P/E ratio of -2.97, a price-to-earnings-growth ratio of 0.28 and a beta of 1.05. The company has a fifty day simple moving average of $9.71 and a 200-day simple moving average of $10.18. Third Point Reinsurance Ltd has a 52-week low of $8.85 and a 52-week high of $11.95.

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Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings data on Tuesday, November 5th. The insurance provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The company had revenue of $200.11 million for the quarter. Sell-side analysts anticipate that Third Point Reinsurance Ltd will post 2.07 EPS for the current fiscal year.

A number of brokerages have weighed in on TPRE. Zacks Investment Research upgraded shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a research report on Sunday, November 3rd. ValuEngine cut shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 4th.

In other Third Point Reinsurance news, CEO Daniel V. Malloy acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $9.67 per share, for a total transaction of $48,350.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.18% of the company’s stock.

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

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