American Century Companies Inc. Buys 1,101,899 Shares of SiriusPoint Ltd. $SPNT

American Century Companies Inc. boosted its position in shares of SiriusPoint Ltd. (NYSE:SPNT) by 29.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,891,478 shares of the company’s stock after acquiring an additional 1,101,899 shares during the period. American Century Companies Inc. owned 4.19% of SiriusPoint worth $99,737,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SPNT. Rhumbline Advisers increased its stake in SiriusPoint by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 278,395 shares of the company’s stock worth $5,676,000 after acquiring an additional 20,512 shares during the last quarter. Franklin Resources Inc. raised its position in shares of SiriusPoint by 80.0% during the 2nd quarter. Franklin Resources Inc. now owns 72,316 shares of the company’s stock valued at $1,475,000 after buying an additional 32,130 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of SiriusPoint by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 265,446 shares of the company’s stock worth $5,412,000 after acquiring an additional 3,149 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in SiriusPoint by 7.1% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,647 shares of the company’s stock valued at $482,000 after acquiring an additional 1,568 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in SiriusPoint by 12.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,291 shares of the company’s stock worth $475,000 after purchasing an additional 2,593 shares during the last quarter. 52.79% of the stock is owned by institutional investors.

SiriusPoint Stock Performance

NYSE:SPNT opened at $20.90 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.34. SiriusPoint Ltd. has a twelve month low of $13.26 and a twelve month high of $21.19. The stock has a market cap of $2.44 billion, a P/E ratio of 13.14 and a beta of 0.81. The firm’s fifty day simple moving average is $18.73 and its 200 day simple moving average is $18.99.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.21. The company had revenue of $755.90 million for the quarter, compared to analysts’ expectations of $738.35 million. SiriusPoint had a net margin of 6.97% and a return on equity of 11.31%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen raised SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SiriusPoint in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.