21,556 Shares in Third Point Reinsurance Ltd. (TPRE) Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. bought a new position in shares of Third Point Reinsurance Ltd. (NYSE:TPRE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,556 shares of the insurance provider’s stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPRE. Chicago Equity Partners LLC raised its position in shares of Third Point Reinsurance by 707.8% during the second quarter. Chicago Equity Partners LLC now owns 391,720 shares of the insurance provider’s stock valued at $5,445,000 after buying an additional 343,230 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Third Point Reinsurance by 284.0% during the second quarter. Russell Investments Group Ltd. now owns 268,566 shares of the insurance provider’s stock valued at $3,733,000 after buying an additional 198,624 shares during the last quarter. Systematic Financial Management LP bought a new stake in shares of Third Point Reinsurance during the second quarter valued at approximately $12,817,000. Dimensional Fund Advisors LP raised its position in shares of Third Point Reinsurance by 52.9% during the first quarter. Dimensional Fund Advisors LP now owns 779,205 shares of the insurance provider’s stock valued at $9,428,000 after buying an additional 269,525 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Third Point Reinsurance by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 291,820 shares of the insurance provider’s stock valued at $4,056,000 after buying an additional 12,317 shares during the last quarter. Institutional investors own 70.65% of the company’s stock.

Third Point Reinsurance Ltd. (NYSE TPRE) opened at $16.15 on Thursday. Third Point Reinsurance Ltd. has a fifty-two week low of $11.05 and a fifty-two week high of $17.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $1,707.40, a price-to-earnings ratio of 9.03, a P/E/G ratio of 0.35 and a beta of 1.28.

Several research firms have recently issued reports on TPRE. Morgan Stanley lifted their price objective on shares of Third Point Reinsurance from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, November 10th. Keefe, Bruyette & Woods cut shares of Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Thursday, October 5th. ValuEngine raised shares of Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. Finally, BidaskClub raised shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $17.17.

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Third Point Reinsurance Company Profile

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.

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

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