226,600 Shares in Third Point Reinsurance (TPRE) Purchased by Dean Capital Management

Dean Capital Management purchased a new stake in shares of Third Point Reinsurance (NYSE:TPRE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 226,600 shares of the insurance provider’s stock, valued at approximately $3,319,000. Third Point Reinsurance accounts for 1.6% of Dean Capital Management’s holdings, making the stock its 21st largest position. Dean Capital Management owned about 0.21% of Third Point Reinsurance at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPRE. UBS Asset Management Americas Inc. increased its stake in shares of Third Point Reinsurance by 11.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 38,460 shares of the insurance provider’s stock valued at $563,000 after purchasing an additional 3,863 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Third Point Reinsurance by 1.1% during the fourth quarter. Alliancebernstein L.P. now owns 363,480 shares of the insurance provider’s stock valued at $5,325,000 after purchasing an additional 4,010 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Third Point Reinsurance by 38.2% during the fourth quarter. State of Alaska Department of Revenue now owns 17,360 shares of the insurance provider’s stock valued at $254,000 after purchasing an additional 4,800 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Third Point Reinsurance by 11.7% during the second quarter. The Manufacturers Life Insurance Company now owns 55,386 shares of the insurance provider’s stock valued at $769,000 after purchasing an additional 5,808 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Third Point Reinsurance by 4.5% during the second quarter. California State Teachers Retirement System now owns 136,079 shares of the insurance provider’s stock valued at $1,891,000 after purchasing an additional 5,894 shares in the last quarter. Institutional investors and hedge funds own 76.94% of the company’s stock.

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TPRE opened at $13.00 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.60 and a current ratio of 0.60. Third Point Reinsurance has a 1-year low of $11.45 and a 1-year high of $17.10. The company has a market capitalization of $1,378.82, a price-to-earnings ratio of 4.94, a price-to-earnings-growth ratio of 0.51 and a beta of 1.10.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings results on Wednesday, February 28th. The insurance provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.04). Third Point Reinsurance had a return on equity of 17.38% and a net margin of 29.58%. The business had revenue of $196.67 million during the quarter. equities analysts anticipate that Third Point Reinsurance will post 1.75 EPS for the current year.

Third Point Reinsurance announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 28th that authorizes the company to repurchase $148.30 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

A number of research firms have recently commented on TPRE. Zacks Investment Research upgraded shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. ValuEngine cut shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Bank of America cut their price target on shares of Third Point Reinsurance from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $17.25.

In other news, insider J. Robert Bredahl sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $14.70, for a total transaction of $1,470,000.00. Following the sale, the insider now directly owns 849,391 shares in the company, valued at approximately $12,486,047.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 36.93% of the stock is owned by company insiders.

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About Third Point Reinsurance

Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners, workers compensation, personal automobile, mortgage, and multi-line reinsurance; professional, transactional, and general liability reinsurance; and marine, travel, and extended warranty reinsurance products.

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

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