Ritholtz Wealth Management bought a new stake in SiriusPoint Ltd. (NYSE:SPNT – Free Report) in the 1st quarter, HoldingsChannel.com reports. The firm bought 49,312 shares of the company’s stock, valued at approximately $1,062,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Optima Capital LLC acquired a new position in SiriusPoint during the 4th quarter worth approximately $41,000. EverSource Wealth Advisors LLC grew its stake in SiriusPoint by 187.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company’s stock valued at $43,000 after acquiring an additional 1,377 shares during the period. Caitlin John LLC bought a new stake in shares of SiriusPoint during the third quarter valued at approximately $39,000. Leonteq Securities AG acquired a new position in shares of SiriusPoint during the fourth quarter worth approximately $136,000. Finally, Torren Management LLC bought a new stake in SiriusPoint during the 4th quarter valued at $143,000. 52.79% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have issued reports on SPNT. Zacks Research downgraded SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. B. Riley Financial assumed coverage on SiriusPoint in a report on Friday, April 17th. They issued a “buy” rating and a $31.00 target price on the stock. Wall Street Zen cut SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, SiriusPoint presently has a consensus rating of “Hold” and an average target price of $31.00.
SiriusPoint Trading Up 0.1%
NYSE:SPNT opened at $23.88 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $2.81 billion, a PE ratio of 5.94 and a beta of 0.62. The firm’s 50 day moving average is $22.92 and its 200 day moving average is $21.77. SiriusPoint Ltd. has a 12 month low of $17.17 and a 12 month high of $24.32.
SiriusPoint (NYSE:SPNT – Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.70 earnings per share for the quarter. SiriusPoint had a return on equity of 16.92% and a net margin of 15.38%.The business had revenue of $774.60 million during the quarter. Sell-side analysts expect that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.
SiriusPoint Profile
SiriusPoint Ltd. is a global insurance and reinsurance company headquartered in Bermuda, offering a broad range of property and casualty solutions to clients around the world. The company operates through two core segments: reinsurance, which provides treaty and facultative coverage across property, casualty and specialty lines; and insurance, which underwrites specialty programs, fronting arrangements and other tailored products for commercial and niche markets. This integrated model allows SiriusPoint to leverage shared underwriting expertise and capital efficiency across its product suite.
On the reinsurance side, SiriusPoint’s offerings include coverage for natural catastrophes, casualty losses, political risk and other complex exposures, with both proportional and non-proportional treaty structures.
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