Third Point Gets a Hold Rating from KBW

By Ryan Adsit

KBW analyst Meyer Shields reiterated a Hold rating on Third Point (NYSE: TPRE) on December 4 and set a price target of $19. The company’s shares opened today at $15.55.

According to, Shields is a 4-star analyst with an average return of 7.4% and a 72.1% success rate. Shields covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Universal Insurance Holdings Inc, and Infinity Property and Casualty.

Third Point has an analyst consensus of Hold, with a price target consensus of $19.

Based on Third Point’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $114 million and quarterly net profit of $54.69 million. In comparison, last year the company earned revenue of $131 million and had a net profit of $71.84 million.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock.

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Third Point Reinsurance Ltd. operates as a holding company, which engages in the provision of insurance services. It offers underwriting solutions, investment management, and property and casualty reinsurance products. The company was founded by Daniel Seth Loeb and John R. Berger on October 6, 2011 and is headquartered in Pembroke, Bermuda.