Bank of New York Mellon Corp lifted its position in Third Point Reinsurance Ltd (NYSE:TPRE) by 152.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 736,540 shares of the insurance provider’s stock after buying an additional 444,720 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of Third Point Reinsurance worth $11,490,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in Third Point Reinsurance by 650.7% during the 2nd 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 during the last quarter. SG Americas Securities LLC purchased a new stake in Third Point Reinsurance during the 2nd quarter worth approximately $122,000. Virtu KCG Holdings LLC purchased a new stake in Third Point Reinsurance during the 2nd quarter worth approximately $167,000. Citigroup Inc. grew its position in Third Point Reinsurance by 235.0% during the 2nd quarter. Citigroup Inc. now owns 15,304 shares of the insurance provider’s stock worth $212,000 after purchasing an additional 10,736 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Third Point Reinsurance during the 2nd quarter worth approximately $224,000. 74.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Third Point Reinsurance Ltd (TPRE) opened at $15.20 on Friday. The company has a market cap of $1,632.23, a price-to-earnings ratio of 8.64, a PEG ratio of 0.35 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.07. Third Point Reinsurance Ltd has a twelve month low of $11.05 and a twelve month high of $17.10.

In other news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $15.57, for a total value of $233,550,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 36.93% of the stock is owned by corporate insiders.

TPRE has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $16.50 target price on shares of Third Point Reinsurance in a research report on Tuesday, September 12th. ValuEngine downgraded shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Morgan Stanley upped 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 report on Friday, November 10th. BidaskClub downgraded shares of Third Point Reinsurance from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Finally, Zacks Investment Research downgraded shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Third Point Reinsurance currently has a consensus rating of “Hold” and a consensus price target of $18.00.

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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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