Third Point Reinsurance (NYSE:TPRE) announced its earnings results on Tuesday. The insurance provider reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05, Fidelity Earnings reports. Third Point Reinsurance had a return on equity of 5.66% and a net margin of 13.15%. The firm had revenue of $124.40 million for the quarter.
Shares of NYSE TPRE traded up $0.14 during midday trading on Wednesday, reaching $11.70. The company’s stock had a trading volume of 44,376 shares, compared to its average volume of 695,350. Third Point Reinsurance has a 12-month low of $10.27 and a 12-month high of $17.10. The company has a market capitalization of $1.10 billion, a PE ratio of 4.45, a PEG ratio of 3.50 and a beta of 1.15. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.07.
A number of equities analysts have recently weighed in on the company. ValuEngine upgraded Third Point Reinsurance from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. Zacks Investment Research upgraded Third Point Reinsurance from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.75.
In other news, major shareholder Daniel S. Loeb sold 800,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $13.15, for a total value of $10,520,000.00. Following the transaction, the insider now owns 1,293,591 shares in the company, valued at approximately $17,010,721.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.10% of the stock is owned by insiders.
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Third Point Reinsurance Company Profile
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.
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