California State Teachers Retirement System decreased its holdings in Third Point Reinsurance Ltd (NYSE:TPRE) by 10.0% in the third quarter, HoldingsChannel.com reports. The fund owned 122,509 shares of the insurance provider’s stock after selling 13,570 shares during the period. California State Teachers Retirement System’s holdings in Third Point Reinsurance were worth $1,911,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Rhumbline Advisers lifted its stake in Third Point Reinsurance by 4.6% in the second quarter. Rhumbline Advisers now owns 86,854 shares of the insurance provider’s stock worth $1,207,000 after acquiring an additional 3,853 shares during the period. Voya Investment Management LLC lifted its stake in Third Point Reinsurance by 16.0% in the second quarter. Voya Investment Management LLC now owns 31,087 shares of the insurance provider’s stock worth $432,000 after acquiring an additional 4,296 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Third Point Reinsurance by 11.7% in the second quarter. The Manufacturers Life Insurance Company now owns 55,386 shares of the insurance provider’s stock worth $769,000 after acquiring an additional 5,808 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Third Point Reinsurance by 650.7% in the second quarter. BNP Paribas Arbitrage SA now owns 8,093 shares of the insurance provider’s stock worth $112,000 after acquiring an additional 7,015 shares during the period. Finally, Nationwide Fund Advisors lifted its stake in Third Point Reinsurance by 16.9% in the second quarter. Nationwide Fund Advisors now owns 58,898 shares of the insurance provider’s stock worth $819,000 after acquiring an additional 8,497 shares during the period. 74.58% of the stock is owned by institutional investors.

Third Point Reinsurance Ltd (NYSE TPRE) opened at $14.25 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1,520.00, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 0.46 and a beta of 1.27. Third Point Reinsurance Ltd has a 52-week low of $11.05 and a 52-week high of $17.10.

Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Third Point Reinsurance had a net margin of 20.78% and a return on equity of 12.12%. equities research analysts forecast that Third Point Reinsurance Ltd will post 2.71 EPS for the current fiscal year.

A number of brokerages recently commented on TPRE. Zacks Investment Research lowered Third Point Reinsurance from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. ValuEngine lowered Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 price objective on shares of Third Point Reinsurance in a research report on Wednesday, December 6th. Finally, Morgan Stanley raised their price objective on 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.33.

In other Third Point Reinsurance news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $15.57, for a total transaction of $233,550,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 36.93% of the company’s stock.

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Third Point Reinsurance 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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