Keefe Bruyette & Woods Maintains Third Point Reinsurance Ltd to Market Perform with Price Target $14.00

Brokerage firm Keefe Bruyette & Woods Maintains its rating on Third Point Reinsurance Ltd(NYSE:TPRE). In a research note issued to the investors, the brokerage major Raises the price-target to $14.00 per share. The shares have been rated Market Perform. The rating by Keefe Bruyette & Woods was issued on Aug 1, 2016.

In a different note, On Jul 7, 2016, JP Morgan said it Maintains its rating on Third Point Reinsurance Ltd. In the research note, the firm Raises the price-target to $13.00 per share. The shares have been rated ‘Neutral’ by the firm.

Third Point Reinsurance Ltd (TPRE) made into the market gainers list on Mondays trading session with the shares advancing 0.63% or 0.08 points. Due to strong positive momentum, the stock ended at $12.75, which is also near the day’s high of $12.75. The stock began the session at $12.67 and the volume stood at 2,94,692 shares. The 52-week high of the shares is $14.42 and the 52 week low is $10.08. The company has a current market capitalization of $1,355 M and it has 10,62,85,663 shares in outstanding.

Third Point Reinsurance Ltd(TPRE) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $136.80M. Analysts had an estimated revenue of $229.70M. Earnings per share were $-0.49. Analysts had estimated an EPS of $-0.50.

Several Insider Transactions has been reported to the SEC. On Aug 14, 2015, Anthony Urban (CUO, Third Point Re USA Ltd.) sold 39,442 shares at $13.97 per share price.Also, On Aug 13, 2015, John R. Berger (CEO) purchased 30,000 shares at $13.99 per share price.

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 operates through two segments: Property and Casualty Reinsurance and Catastrophe Risk Management. The Property and Casualty Reinsurance segment provides reinsurance products to insurance and reinsurance companies government entities and other risk bearing vehicles. The Catastrophe Risk Management segment is engaged in the underwriting of property catastrophe exposures. The Company’s corporate function includes its investment results and certain general and administrative expenses related to corporate activities. The Company’s investable assets are managed by its investment manager Third Point LLC.

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