Bessemer Group Inc. Raises Position in SiriusPoint Ltd. $SPNT

Bessemer Group Inc. lifted its stake in shares of SiriusPoint Ltd. (NYSE:SPNT) by 50.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 252,246 shares of the company’s stock after buying an additional 84,589 shares during the quarter. Bessemer Group Inc. owned 0.22% of SiriusPoint worth $5,433,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPNT. Illinois Municipal Retirement Fund raised its stake in shares of SiriusPoint by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 55,103 shares of the company’s stock valued at $1,187,000 after purchasing an additional 1,313 shares during the period. Principal Financial Group Inc. grew its holdings in SiriusPoint by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 505,624 shares of the company’s stock valued at $10,891,000 after purchasing an additional 10,012 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in SiriusPoint by 15.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 17,982 shares of the company’s stock valued at $387,000 after purchasing an additional 2,374 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in SiriusPoint during the 1st quarter worth $993,000. Finally, Ritholtz Wealth Management purchased a new stake in SiriusPoint during the 1st quarter worth $1,062,000. 52.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on SPNT. B. Riley Financial initiated coverage on shares of SiriusPoint in a research report on Friday, April 17th. They issued a “buy” rating and a $31.00 price objective for the company. Wall Street Zen lowered SiriusPoint from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research cut SiriusPoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings downgraded SiriusPoint from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, SiriusPoint presently has a consensus rating of “Hold” and a consensus target price of $31.00.

SiriusPoint Stock Performance

Shares of SPNT opened at $24.67 on Tuesday. The stock has a market capitalization of $2.90 billion, a PE ratio of 6.14 and a beta of 0.60. The business’s fifty day moving average price is $23.28 and its 200 day moving average price is $22.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. SiriusPoint Ltd. has a 12-month low of $17.17 and a 12-month high of $25.40.

SiriusPoint (NYSE:SPNT) last issued its earnings results on Tuesday, March 31st. The company reported $0.70 earnings per share for the quarter. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. The company had revenue of $774.60 million for the quarter. Equities research analysts forecast that SiriusPoint Ltd. will post 2.57 EPS for the current year.

SiriusPoint Company Profile

SiriusPoint Ltd. is a global insurance and reinsurance company headquartered in Bermuda, offering a broad range of property and casualty solutions to clients around the world. The company operates through two core segments: reinsurance, which provides treaty and facultative coverage across property, casualty and specialty lines; and insurance, which underwrites specialty programs, fronting arrangements and other tailored products for commercial and niche markets. This integrated model allows SiriusPoint to leverage shared underwriting expertise and capital efficiency across its product suite.

On the reinsurance side, SiriusPoint’s offerings include coverage for natural catastrophes, casualty losses, political risk and other complex exposures, with both proportional and non-proportional treaty structures.