News coverage about Third Point Reinsurance (NYSE:TPRE) has trended somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Third Point Reinsurance earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave news stories about the insurance provider an impact score of 47.0449844222665 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Third Point Reinsurance (NYSE:TPRE) opened at $15.35 on Friday. The firm has a market capitalization of $1,691.29, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 0.36 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 0.68. Third Point Reinsurance has a 12-month low of $11.05 and a 12-month high of $17.10.
A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 price target on shares of Third Point Reinsurance in a research report on Wednesday. Zacks Investment Research lowered shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a report on Thursday. BidaskClub downgraded shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Morgan Stanley boosted their target price on shares of Third Point Reinsurance from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, November 10th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Third Point Reinsurance presently has an average rating of “Hold” and an average price target of $18.00.
In other Third Point Reinsurance news, major shareholder Tp Holdings L.P. Kia sold 15,000,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 36.93% of the company’s stock.
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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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