Swiss National Bank Grows Position in SiriusPoint Ltd. $SPNT

Swiss National Bank lifted its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203,800 shares of the company’s stock after purchasing an additional 3,400 shares during the quarter. Swiss National Bank owned about 0.17% of SiriusPoint worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Mariner LLC grew its holdings in shares of SiriusPoint by 6.3% during the 4th quarter. Mariner LLC now owns 20,792 shares of the company’s stock worth $341,000 after purchasing an additional 1,230 shares during the period. Bank of Montreal Can grew its holdings in shares of SiriusPoint by 8.4% during the 4th quarter. Bank of Montreal Can now owns 18,013 shares of the company’s stock worth $295,000 after purchasing an additional 1,393 shares during the period. Natixis Advisors LLC grew its holdings in shares of SiriusPoint by 10.9% during the 1st quarter. Natixis Advisors LLC now owns 14,662 shares of the company’s stock worth $254,000 after purchasing an additional 1,444 shares during the period. GAMMA Investing LLC grew its holdings in shares of SiriusPoint by 91.0% during the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company’s stock worth $76,000 after purchasing an additional 2,086 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of SiriusPoint by 25.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company’s stock worth $173,000 after purchasing an additional 2,115 shares during the period. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

SiriusPoint Stock Performance

Shares of SiriusPoint stock opened at $18.6230 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 20.92 and a beta of 0.86. The business has a 50-day moving average of $19.17 and a 200 day moving average of $17.52. SiriusPoint Ltd. has a 12 month low of $12.78 and a 12 month high of $21.03.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.10. The business had revenue of $948.20 million during the quarter, compared to analysts’ expectations of $720.10 million. SiriusPoint had a return on equity of 6.57% and a net margin of 4.38%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPNT. Wall Street Zen cut SiriusPoint from a “strong-buy” rating to a “buy” rating in a report on Friday, June 27th. B. Riley began coverage on SiriusPoint in a report on Monday, July 21st. They set a “buy” rating and a $33.00 target price for the company. Finally, Oppenheimer set a $25.00 target price on SiriusPoint and gave the company an “outperform” rating in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $25.00.

SiriusPoint Company Profile

SiriusPoint Ltd. provides multi-line insurance and reinsurance products and services worldwide. The company operates through two segments, Reinsurance, and Insurance & Services. The Reinsurance segment provides aviation and space, accident and health, casualty, credit, marine and energy, property to insurance and reinsurance companies, government entities, and other risk bearing vehicles.