Wellington Management Group LLP increased its holdings in SiriusPoint Ltd. (NYSE:SPNT – Free Report) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,342,706 shares of the company’s stock after acquiring an additional 241,648 shares during the period. Wellington Management Group LLP’s holdings in SiriusPoint were worth $80,225,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new stake in shares of SiriusPoint in the second quarter worth approximately $13,566,000. Caitlin John LLC purchased a new stake in SiriusPoint in the 2nd quarter valued at $52,000. Public Employees Retirement System of Ohio bought a new position in SiriusPoint during the 2nd quarter valued at $403,000. Corient Private Wealth LP purchased a new position in SiriusPoint during the 2nd quarter worth $258,000. Finally, Punch & Associates Investment Management Inc. bought a new stake in shares of SiriusPoint in the 2nd quarter worth $36,047,000. Institutional investors and hedge funds own 52.79% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of SiriusPoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of SiriusPoint from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of SiriusPoint in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, SiriusPoint has a consensus rating of “Hold” and an average price target of $31.00.
SiriusPoint Price Performance
Shares of NYSE SPNT opened at $24.34 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $24.14 and a two-hundred day simple moving average of $22.85. SiriusPoint Ltd. has a 1-year low of $17.17 and a 1-year high of $26.48. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 5.94 and a beta of 0.61.
SiriusPoint (NYSE:SPNT – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%.The firm had revenue of $744.10 million for the quarter, compared to analyst estimates of $798.95 million. Analysts anticipate that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.
About SiriusPoint
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.
Featured Stories
- Five stocks we like better than SiriusPoint
- Striking Oil: How the U.S. Play for Venezuela Fuels Supermajors
- J.M. Smucker Stock’s Rally Has More Than Tariffs Behind It
- Wendy’s Rally Fades After Trian Steps Back: Was It Ever Real?
- GitLab’s Earnings Beat Just Gave Software Bulls a New SaaSpocalypse Test
Want to see what other hedge funds are holding SPNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiriusPoint Ltd. (NYSE:SPNT – Free Report).
Receive News & Ratings for SiriusPoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiriusPoint and related companies with MarketBeat.com's FREE daily email newsletter.
