Punch & Associates Investment Management Inc. raised its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT – Free Report) by 47.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,390,091 shares of the company’s stock after purchasing an additional 448,712 shares during the period. SiriusPoint comprises 1.8% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its 8th largest holding. Punch & Associates Investment Management Inc.’s holdings in SiriusPoint were worth $30,429,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in SPNT. Goldman Sachs Group Inc. boosted its holdings in shares of SiriusPoint by 223.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company’s stock valued at $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% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company’s stock valued at $184,510,000 after buying an additional 1,026,284 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of SiriusPoint by 17.5% in the 3rd quarter. Capital Research Global Investors now owns 6,700,000 shares of the company’s stock valued at $121,203,000 after buying an additional 1,000,000 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of SiriusPoint by 17.5% in the 3rd quarter. American Century Companies Inc. now owns 5,745,793 shares of the company’s stock valued at $103,941,000 after buying an additional 854,315 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of SiriusPoint by 20.6% in the 3rd quarter. Victory Capital Management Inc. now owns 4,312,811 shares of the company’s stock valued at $78,019,000 after buying an additional 736,823 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Zacks Research cut shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Wall Street Zen cut shares of SiriusPoint from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. B. Riley Financial assumed coverage on shares of SiriusPoint in a report on Friday, April 17th. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Weiss Ratings cut shares of SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, SiriusPoint currently has an average rating of “Moderate Buy” and an average price target of $28.00.
SiriusPoint Stock Up 0.3%
SPNT stock opened at $23.24 on Wednesday. The firm has a 50 day moving average of $22.87 and a 200 day moving average of $21.66. The stock has a market capitalization of $2.73 billion, a PE ratio of 5.78 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30. SiriusPoint Ltd. has a 52 week low of $17.17 and a 52 week high of $24.32.
SiriusPoint (NYSE:SPNT – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.70 EPS for the quarter. The company had revenue of $774.60 million during the quarter. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. Sell-side analysts forecast 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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