State of Alaska Department of Revenue Raises Holdings in SiriusPoint Ltd. $SPNT

State of Alaska Department of Revenue raised its stake in SiriusPoint Ltd. (NYSE:SPNT) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,818 shares of the company’s stock after purchasing an additional 3,695 shares during the period. State of Alaska Department of Revenue’s holdings in SiriusPoint were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in SiriusPoint by 4,246.7% in the first quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company’s stock valued at $47,397,000 after acquiring an additional 2,678,214 shares in the last quarter. Goldman Sachs Group Inc. increased its position 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 purchasing an additional 1,440,836 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of SiriusPoint by 42.6% in the 1st quarter. American Century Companies Inc. now owns 3,789,579 shares of the company’s stock valued at $65,522,000 after purchasing an additional 1,132,787 shares in the last quarter. Punch & Associates Investment Management Inc. purchased a new stake in shares of SiriusPoint during the 1st quarter worth $12,520,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of SiriusPoint during the first quarter worth $7,582,000. 52.79% of the stock is owned by institutional investors and hedge funds.

SiriusPoint Price Performance

Shares of SPNT opened at $18.61 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.60. SiriusPoint Ltd. has a fifty-two week low of $12.78 and a fifty-two week high of $21.03. The firm has a 50-day simple moving average of $18.49 and a 200-day simple moving average of $18.41. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 20.91 and a beta of 0.76.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer set a $25.00 price target on SiriusPoint and gave the company an “outperform” rating in a research note on Thursday, June 26th. Wall Street Zen cut SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of SiriusPoint in a research note on Saturday, September 27th. Finally, B. Riley initiated coverage on shares of SiriusPoint in a research report on Monday, July 21st. They set a “buy” rating and a $33.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target 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.