Alyeska Investment Group L.P. Purchases New Holdings in SiriusPoint Ltd. $SPNT

Key Points

• Alyeska Investment Group L.P. acquired 412,500 shares of SiriusPoint Ltd. for approximately $7.13 million, representing about 0.35% of the company's total stock.
• Several institutional investors, including Natixis Advisors and Quarry LP, have increased their holdings in SiriusPoint, with institutional ownership now at 52.79%.
• SiriusPoint reported a quarterly EPS of $0.66, surpassing analysts' expectations, with revenues reaching $948.2 million, well above the estimated $720.1 million.

Alyeska Investment Group L.P. purchased a new position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 412,500 shares of the company's stock, valued at approximately $7,132,000. Alyeska Investment Group L.P. owned 0.35% of SiriusPoint as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Northern Trust Corp increased its holdings in shares of SiriusPoint by 9.1% during the 4th quarter. Northern Trust Corp now owns 1,059,021 shares of the company's stock worth $17,357,000 after buying an additional 88,296 shares during the last quarter. Jane Street Group LLC grew its position in SiriusPoint by 42.7% during the fourth quarter. Jane Street Group LLC now owns 61,976 shares of the company's stock valued at $1,016,000 after acquiring an additional 18,531 shares during the period. BNP Paribas Financial Markets acquired a new stake in SiriusPoint during the fourth quarter worth about $204,000. Balyasny Asset Management L.P. acquired a new stake in SiriusPoint during the fourth quarter worth about $742,000. Finally, Deutsche Bank AG raised its holdings in shares of SiriusPoint by 79.7% in the 4th quarter. Deutsche Bank AG now owns 90,819 shares of the company's stock worth $1,489,000 after purchasing an additional 40,283 shares during the period. 52.79% of the stock is owned by hedge funds and other institutional investors.

SiriusPoint Stock Up 2.7%

Shares of SPNT traded up $0.50 during mid-day trading on Thursday, reaching $19.14. 1,873,108 shares of the stock traded hands, compared to its average volume of 918,485. The stock has a fifty day simple moving average of $18.85 and a 200 day simple moving average of $18.02. SiriusPoint Ltd. has a 12-month low of $12.78 and a 12-month high of $21.03. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 21.51 and a beta of 0.85.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.10. The business had revenue of $948.20 million during the quarter, compared to the consensus estimate of $720.10 million. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%.

Analyst Upgrades and Downgrades

SPNT has been the topic of a number of recent research reports. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Oppenheimer set a $25.00 target price on shares of SiriusPoint and gave the company an "outperform" rating in a research note on Thursday, June 26th. Finally, B. Riley assumed coverage on shares of SiriusPoint in a research report on Monday, July 21st. They set a "buy" rating and a $33.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, SiriusPoint presently has an average rating of "Buy" and an average target price of $25.00.

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.