Third Point Reinsurance (NYSE:TPRE) Receives Media Sentiment Rating of 0.15

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News headlines about Third Point Reinsurance (NYSE:TPRE) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research group scores the sentiment of press coverage by analyzing more than 20 million blog and news 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 daily sentiment score of 0.15 on Accern’s scale. Accern also gave headlines about the insurance provider an impact score of 46.6732737047872 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Shares of Third Point Reinsurance stock traded down $0.30 during midday trading on Friday, hitting $13.00. The company had a trading volume of 506,232 shares, compared to its average volume of 716,718. The company has a market cap of $1,378.82, a price-to-earnings ratio of 4.94, a PEG ratio of 0.51 and a beta of 1.10. Third Point Reinsurance has a 1-year low of $11.45 and a 1-year high of $17.10. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.07.

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

Third Point Reinsurance declared that its board has initiated a share buyback plan on Wednesday, February 28th that allows the company to repurchase $148.30 million in shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Several equities analysts have recently weighed in on TPRE shares. ValuEngine lowered shares of Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Zacks Investment Research lowered shares of Third Point Reinsurance from a “hold” rating to a “sell” rating in a research report on Tuesday, March 6th. Finally, Bank of America cut their price objective on shares of Third Point Reinsurance from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Third Point Reinsurance currently has an average rating of “Hold” and an average price target of $17.25.

In related news, insider J. Robert Bredahl sold 100,000 shares of Third Point Reinsurance stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $14.70, for a total value of $1,470,000.00. Following the completion of the sale, the insider now directly owns 849,391 shares in the company, valued at $12,486,047.70. The sale was disclosed in a filing with the SEC, which is available 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.

Insider Buying and Selling by Quarter for Third Point Reinsurance (NYSE:TPRE)

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