Edgestream Partners L.P. Has $1.34 Million Position in SiriusPoint Ltd. $SPNT

Edgestream Partners L.P. cut its stake in SiriusPoint Ltd. (NYSE:SPNT) by 57.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,630 shares of the company’s stock after selling 89,670 shares during the period. Edgestream Partners L.P. owned approximately 0.06% of SiriusPoint worth $1,338,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SPNT. ProShare Advisors LLC increased its position in shares of SiriusPoint by 2.7% in the second quarter. ProShare Advisors LLC now owns 22,698 shares of the company’s stock worth $463,000 after purchasing an additional 592 shares during the period. GAMMA Investing LLC grew its stake in SiriusPoint by 14.6% during the second quarter. GAMMA Investing LLC now owns 5,018 shares of the company’s stock worth $102,000 after buying an additional 639 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in SiriusPoint by 8.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,469 shares of the company’s stock valued at $213,000 after buying an additional 807 shares during the period. USA Financial Formulas bought a new position in SiriusPoint in the 2nd quarter valued at about $27,000. Finally, Natixis Advisors LLC raised its position in shares of SiriusPoint by 10.9% in the 1st quarter. Natixis Advisors LLC now owns 14,662 shares of the company’s stock valued at $254,000 after buying an additional 1,444 shares in the last quarter. 52.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Zacks Research upgraded shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Wall Street Zen upgraded SiriusPoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of SiriusPoint in a report on Monday. Three equities research 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, the company has an average rating of “Buy” and a consensus price target of $25.00.

SiriusPoint Stock Performance

Shares of SiriusPoint stock opened at $21.50 on Friday. The company’s 50 day moving average price is $19.27 and its two-hundred day moving average price is $19.09. The firm has a market capitalization of $2.51 billion, a P/E ratio of 13.52 and a beta of 0.68. SiriusPoint Ltd. has a fifty-two week low of $13.26 and a fifty-two week high of $21.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.57.

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

About SiriusPoint

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.