American Century Companies Inc. Raises Holdings in SiriusPoint Ltd. $SPNT

Key Points

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American Century Companies Inc. increased its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 42.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,789,579 shares of the company's stock after acquiring an additional 1,132,787 shares during the quarter. American Century Companies Inc. owned approximately 3.25% of SiriusPoint worth $65,522,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SPNT. Sterling Capital Management LLC lifted its holdings in SiriusPoint by 742.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock worth $44,000 after acquiring an additional 2,392 shares during the period. US Bancorp DE bought a new stake in shares of SiriusPoint in the first quarter valued at $65,000. GAMMA Investing LLC raised its stake in shares of SiriusPoint by 91.0% in the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after buying an additional 2,086 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of SiriusPoint by 25.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock valued at $173,000 after buying an additional 2,115 shares during the period. Finally, Quantessence Capital LLC bought a new stake in shares of SiriusPoint in the fourth quarter valued at $183,000. 52.79% of the stock is currently owned by institutional investors.

SiriusPoint Price Performance

NYSE:SPNT traded up $0.1750 during trading hours on Friday, hitting $18.6750. The stock had a trading volume of 1,248,482 shares, compared to its average volume of 861,022. The company has a 50 day simple moving average of $19.13 and a two-hundred day simple moving average of $17.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. SiriusPoint Ltd. has a one year low of $12.78 and a one year high of $21.03. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 20.98 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.56 by $0.10. The firm 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

Several analysts have issued reports on the company. Wall Street Zen lowered SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Oppenheimer set a $25.00 target price on SiriusPoint and gave the company an "outperform" rating in a research note on Thursday, June 26th. Finally, B. Riley assumed coverage on SiriusPoint in a research note on Monday, July 21st. They issued a "buy" rating and a $33.00 target price on the stock. Two investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price 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.