Franklin Resources Inc. Acquires 32,130 Shares of SiriusPoint Ltd. $SPNT

Franklin Resources Inc. grew its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT) by 80.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,316 shares of the company’s stock after acquiring an additional 32,130 shares during the quarter. Franklin Resources Inc. owned 0.06% of SiriusPoint worth $1,475,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC raised its position in SiriusPoint by 10.9% in 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. US Bancorp DE bought a new position in shares of SiriusPoint during the first quarter valued at about $65,000. Swiss National Bank increased its holdings in shares of SiriusPoint by 1.7% in the first quarter. Swiss National Bank now owns 203,800 shares of the company’s stock worth $3,524,000 after buying an additional 3,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SiriusPoint in the 1st quarter valued at about $545,000. Finally, Nuveen LLC purchased a new stake in SiriusPoint during the 1st quarter valued at about $3,883,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Performance

Shares of SPNT opened at $21.77 on Friday. The company has a 50-day simple moving average of $19.21 and a two-hundred day simple moving average of $19.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $2.54 billion, a PE ratio of 13.69 and a beta of 0.68. SiriusPoint Ltd. has a one year low of $13.26 and a one year high of $21.84.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented 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. Zacks Research raised SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of SiriusPoint in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.