Donald Smith & CO. Inc. Buys Shares of 6,164,189 SiriusPoint Ltd. $SPNT

Key Points

• Donald Smith & Co. acquired 6.16 million SiriusPoint shares worth approximately $147.9 million, giving the firm a 5.31% stake and making SiriusPoint its 18th-largest holding.
• Institutional ownership stands at 52.79%, with several other investors increasing or initiating positions during recent quarters.
• SiriusPoint reported quarterly EPS of $0.67, exceeding the $0.65 consensus estimate, while analysts maintain a consensus “Hold” rating and a $31 price target.

Donald Smith & CO. Inc. bought a new position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,164,189 shares of the company's stock, valued at approximately $147,941,000. SiriusPoint accounts for 2.6% of Donald Smith & CO. Inc.'s holdings, making the stock its 18th biggest holding. Donald Smith & CO. Inc. owned 5.31% of SiriusPoint at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of SiriusPoint by 187.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company's stock valued at $43,000 after acquiring an additional 1,377 shares in the last quarter. Leonteq Securities AG purchased a new position in SiriusPoint during the 4th quarter valued at about $136,000. Torren Management LLC bought a new stake in shares of SiriusPoint in the 4th quarter valued at about $143,000. Inspire Investing LLC bought a new stake in shares of SiriusPoint in the 4th quarter valued at about $185,000. Finally, Royal Bank of Canada lifted its position in shares of SiriusPoint by 64.0% in the 4th quarter. Royal Bank of Canada now owns 8,790 shares of the company's stock worth $192,000 after purchasing an additional 3,430 shares during the period. Institutional investors own 52.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of SiriusPoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Weiss Ratings reissued a "buy (b+)" rating on shares of SiriusPoint in a research note on Friday, August 7th. Finally, Wall Street Zen lowered SiriusPoint from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, SiriusPoint has a consensus rating of "Hold" and a consensus target price of $31.00.

SiriusPoint Stock Performance

Shares of SiriusPoint stock opened at $23.64 on Friday. The company has a market capitalization of $2.75 billion, a PE ratio of 5.77 and a beta of 0.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50-day simple moving average of $23.98 and a two-hundred day simple moving average of $22.62. SiriusPoint Ltd. has a one year low of $17.17 and a one year high of $26.48.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. The business had revenue of $744.10 million during the quarter, compared to analyst estimates of $798.95 million. Research analysts expect that SiriusPoint Ltd. will post 2.57 EPS for the current fiscal year.

SiriusPoint 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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