BlackRock Inc. bought a new stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,327,211 shares of the company's stock, valued at approximately $271,853,000. BlackRock Inc. owned 9.75% of SiriusPoint at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in SiriusPoint in the 2nd quarter worth about $2,782,000. Bank of New York Mellon Corp purchased a new stake in SiriusPoint during the second quarter valued at about $16,774,000. State of Wyoming purchased a new stake in SiriusPoint during the second quarter valued at about $1,016,000. NewEdge Advisors LLC bought a new position in SiriusPoint during the first quarter worth about $292,000. Finally, EverSource Wealth Advisors LLC boosted its position in SiriusPoint by 51.3% during the first quarter. EverSource Wealth Advisors LLC now owns 3,704 shares of the company's stock worth $80,000 after purchasing an additional 1,256 shares during the period. Hedge funds and other institutional investors own 52.79% of the company's stock.
SiriusPoint Stock Down 0.2%
SPNT stock opened at $23.91 on Thursday. The stock has a 50-day simple moving average of $24.03 and a two-hundred day simple moving average of $22.71. SiriusPoint Ltd. has a twelve month low of $17.17 and a twelve month high of $26.48. The firm has a market capitalization of $2.78 billion, a PE ratio of 5.83 and a beta of 0.61. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.30.
SiriusPoint (NYSE:SPNT - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.02. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. The firm had revenue of $744.10 million for the quarter, compared to the consensus estimate of $798.95 million. On average, equities analysts predict that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on SPNT. Weiss Ratings reissued a "buy (b+)" rating on shares of SiriusPoint in a research report on Friday, August 7th. Zacks Research downgraded shares of SiriusPoint from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Finally, Wall Street Zen lowered shares of SiriusPoint from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, SiriusPoint currently has a consensus rating of "Hold" and an average target price of $31.00.
Get Our Latest Stock Analysis on SiriusPoint
About SiriusPoint
(
Free Report)
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.
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