Public Employees Retirement System of Ohio Invests $332,000 in SiriusPoint Ltd. $SPNT

Public Employees Retirement System of Ohio purchased a new position in shares of SiriusPoint Ltd. (NYSE:SPNT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,294 shares of the company’s stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPNT. Victory Capital Management Inc. lifted its holdings in shares of SiriusPoint by 4,246.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company’s stock worth $47,397,000 after acquiring an additional 2,678,214 shares during the period. Goldman Sachs Group Inc. lifted its stake in 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. lifted its stake in 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 during the last quarter. Punch & Associates Investment Management Inc. bought a new position in SiriusPoint in the 1st quarter valued at approximately $12,520,000. Finally, Zweig DiMenna Associates LLC bought a new position in SiriusPoint in the 1st quarter valued at approximately $7,582,000. Institutional investors own 52.79% of the company’s stock.

SiriusPoint Price Performance

SPNT stock opened at $18.24 on Tuesday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 20.49 and a beta of 0.76. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36. SiriusPoint Ltd. has a 12-month low of $12.78 and a 12-month high of $21.03. The company’s fifty day simple moving average is $18.47 and its 200 day simple moving average is $18.43.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 4.38% and a return on equity of 6.57%.

Analysts Set New Price Targets

Several brokerages recently commented on SPNT. Weiss Ratings reissued a “buy (b)” rating on shares of SiriusPoint in a research note on Saturday, September 27th. Oppenheimer set a $25.00 price objective on shares of SiriusPoint and gave the company an “outperform” rating in a research note on Thursday, June 26th. Wall Street Zen downgraded shares of SiriusPoint from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 27th. Finally, B. Riley began coverage on shares of SiriusPoint in a research note on Monday, July 21st. They issued 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 stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $25.00.

SiriusPoint 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.