Brandywine Global Investment Management LLC Lowers Stake in SiriusPoint Ltd. (NYSE:SPNT)

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in SiriusPoint Ltd. by 3.8%, now holding 383,431 shares valued at approximately $6.63 million.
• Analysts have mixed views on SiriusPoint, with an average rating of "Buy" and a target price of $25.00, despite one analyst recently lowering their rating from "strong-buy" to "buy."
• SiriusPoint reported a quarterly earnings per share of $0.66, exceeding estimates, and driving revenues to $948.2 million, which is considerably higher than expected.

Brandywine Global Investment Management LLC lowered its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 383,431 shares of the company's stock after selling 15,010 shares during the quarter. Brandywine Global Investment Management LLC owned 0.33% of SiriusPoint worth $6,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of SiriusPoint by 742.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock valued at $44,000 after buying an additional 2,392 shares in the last quarter. US Bancorp DE purchased a new stake in shares of SiriusPoint during the 1st quarter valued at $65,000. GAMMA Investing LLC raised its position in SiriusPoint by 91.0% in the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock worth $76,000 after purchasing an additional 2,086 shares during the period. Tower Research Capital LLC TRC raised its position in SiriusPoint by 25.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock worth $173,000 after purchasing an additional 2,115 shares during the period. Finally, Quantessence Capital LLC purchased a new position in SiriusPoint in the 4th quarter worth $183,000. Hedge funds and other institutional investors own 52.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. B. Riley assumed coverage on shares of SiriusPoint in a research report on Monday, July 21st. They issued a "buy" rating and a $33.00 target price on the stock. Finally, Oppenheimer set a $25.00 target price on shares of SiriusPoint and gave the stock an "outperform" rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $25.00.

SiriusPoint Price Performance

Shares of SiriusPoint stock opened at $18.26 on Friday. The firm has a market cap of $2.13 billion, a PE ratio of 20.52 and a beta of 0.86. 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 company's fifty day simple moving average is $19.22 and its two-hundred day simple moving average is $17.46.

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

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.

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