Brandywine Global Investment Management LLC Has $6.63 Million Stock Position in SiriusPoint Ltd. $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 reduced its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,431 shares of the company's stock after selling 15,010 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.33% of SiriusPoint worth $6,630,000 at the end of the most recent quarter.

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

SiriusPoint Price Performance

Shares of SiriusPoint stock traded up $0.4850 during trading on Friday, reaching $18.9850. The company's stock had a trading volume of 398,034 shares, compared to its average volume of 699,552. SiriusPoint Ltd. has a one year low of $12.78 and a one year high of $21.03. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $19.14 and a two-hundred day moving average price of $17.55. The stock has a market capitalization of $2.22 billion, a P/E ratio of 21.37 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.10. The firm had revenue of $948.20 million during 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%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SPNT shares. Wall Street Zen downgraded 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 price objective on SiriusPoint and gave the company an "outperform" rating in a research report 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 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target 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.