State of Wyoming bought a new stake in SiriusPoint Ltd. (NYSE:SPNT – Free Report) during the second quarter, Holdings Channel.com reports. The firm bought 42,324 shares of the company’s stock, valued at approximately $1,016,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in shares of SiriusPoint by 223.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock worth $36,079,000 after buying an additional 1,440,836 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of SiriusPoint by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock valued at $184,510,000 after acquiring an additional 1,026,284 shares in the last quarter. Capital Research Global Investors grew its position in SiriusPoint by 11.2% during the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company’s stock worth $163,036,000 after acquiring an additional 747,968 shares during the last quarter. Millennium Management LLC grew its position in SiriusPoint by 3,428.3% during the 3rd quarter. Millennium Management LLC now owns 584,318 shares of the company’s stock worth $10,570,000 after acquiring an additional 567,757 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in SiriusPoint by 2,183.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 515,464 shares of the company’s stock worth $9,325,000 after acquiring an additional 492,894 shares during the last quarter. Institutional investors own 52.79% of the company’s stock.
Analysts Set New Price Targets
SPNT has been the subject of several research reports. Wall Street Zen downgraded SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research lowered SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of SiriusPoint in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.00.
SiriusPoint Price Performance
Shares of NYSE:SPNT opened at $23.77 on Friday. The firm has a market cap of $2.76 billion, a PE ratio of 5.80 and a beta of 0.61. The firm’s fifty day moving average is $23.91 and its 200-day moving average is $22.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.58. SiriusPoint Ltd. has a 52 week low of $17.17 and a 52 week high of $26.48.
SiriusPoint (NYSE:SPNT – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $744.10 million during the quarter, compared to the consensus estimate of $798.95 million. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%. Sell-side analysts predict that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.
SiriusPoint Company 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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