Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 31,503 SiriusPoint Ltd. $SPNT

Key Points

• Connor Clark & Lunn Investment Management Ltd. invested approximately $545,000 in SiriusPoint Ltd. by acquiring 31,503 shares in the first quarter.
• Other institutional investors significantly increased their positions, with Victory Capital Management Inc. raising its holdings by 4,246.7% to own over 2.7 million shares worth about $47.4 million.
• SiriusPoint reported a quarterly EPS of $0.66, exceeding analysts' expectations of $0.56, as well as a revenue of $948.2 million versus projected figures of $720.1 million.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 31,503 shares of the company's stock, valued at approximately $545,000.

A number of other institutional investors have also added to or reduced their stakes in SPNT. Wells Fargo & Company MN increased its position in SiriusPoint by 11.3% during the 4th quarter. Wells Fargo & Company MN now owns 96,491 shares of the company's stock valued at $1,581,000 after purchasing an additional 9,806 shares during the period. Bank of Montreal Can boosted its holdings in shares of SiriusPoint by 8.4% in the 4th quarter. Bank of Montreal Can now owns 18,013 shares of the company's stock valued at $295,000 after buying an additional 1,393 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of SiriusPoint by 73.6% in the 4th quarter. Renaissance Technologies LLC now owns 227,987 shares of the company's stock valued at $3,737,000 after buying an additional 96,687 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of SiriusPoint by 742.9% in 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. Finally, Mariner LLC boosted its holdings in shares of SiriusPoint by 6.3% in the 4th quarter. Mariner LLC now owns 20,792 shares of the company's stock valued at $341,000 after buying an additional 1,230 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company's stock.

SiriusPoint Stock Performance

SPNT stock traded up $0.1750 during trading on Friday, reaching $18.6750. The company had a trading volume of 1,248,482 shares, compared to its average volume of 840,990. The firm has a 50-day simple moving average of $19.13 and a 200-day simple moving average of $17.61. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 20.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.60. SiriusPoint Ltd. has a twelve month low of $12.78 and a twelve month high of $21.03.

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. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%. The company had revenue of $948.20 million during the quarter, compared to analysts' expectations of $720.10 million.

Wall Street Analyst Weigh In

SPNT has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the company an "outperform" rating in a report on Thursday, June 26th. Finally, B. Riley initiated coverage on shares of SiriusPoint in a report on Monday, July 21st. They issued a "buy" rating and a $33.00 price target 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 given a Hold rating to the company. According to data from MarketBeat, SiriusPoint presently has an average rating of "Buy" and a consensus price target 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.