Deutsche Bank AG Invests $2.78 Million in SiriusPoint Ltd. $SPNT

Key Points

• Deutsche Bank purchased 115,913 SiriusPoint shares worth approximately $2.78 million during the second quarter, while institutional investors collectively own 52.79% of the stock.
• Analyst sentiment is mixed, with two Buy ratings and three Hold ratings; the consensus rating is Hold, with an average price target of $31.00.
• SiriusPoint reported quarterly EPS of $0.67, exceeding estimates of $0.65, though revenue of $744.1 million came in below the $798.95 million consensus forecast.

Deutsche Bank AG purchased a new position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 115,913 shares of the company's stock, valued at approximately $2,782,000. Deutsche Bank AG owned approximately 0.10% of SiriusPoint as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in SiriusPoint during the 2nd quarter worth about $16,774,000. State of Wyoming acquired a new position in SiriusPoint during the 2nd quarter worth approximately $1,016,000. NewEdge Advisors LLC purchased a new stake in shares of SiriusPoint in the 1st quarter valued at approximately $292,000. EverSource Wealth Advisors LLC raised its holdings in shares of SiriusPoint by 51.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,704 shares of the company's stock valued at $80,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of SiriusPoint by 91.8% in the 1st quarter. Royal Bank of Canada now owns 16,858 shares of the company's stock valued at $363,000 after purchasing an additional 8,068 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SPNT shares. Weiss Ratings reiterated a "buy (b+)" rating on shares of SiriusPoint in a report on Friday, August 7th. Wall Street Zen cut SiriusPoint from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered shares of SiriusPoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $31.00.

SiriusPoint Price Performance

SiriusPoint stock opened at $24.07 on Friday. The firm has a market capitalization of $2.80 billion, a PE ratio of 5.87 and a beta of 0.61. SiriusPoint Ltd. has a 52 week low of $17.17 and a 52 week high of $26.48. The firm's 50-day simple moving average is $24.05 and its 200 day simple moving average is $22.74. 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, beating the consensus estimate of $0.65 by $0.02. The company had revenue of $744.10 million for the quarter, compared to the consensus estimate of $798.95 million. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. On average, equities research analysts predict that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.

SiriusPoint Company Profile

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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