Donald Smith & CO. Inc. Has $134.44 Million Holdings in SiriusPoint Ltd. (NYSE:SPNT)

Key Points

• Donald Smith & CO. Inc. has decreased its stake in SiriusPoint Ltd. by 1.4%, now holding approximately 7.78 million shares, representing about 3.3% of their overall holdings.
• SiriusPoint's recent earnings report showed an EPS of $0.66, surpassing estimates and reflecting strong revenue performance.
• Analyst ratings on SiriusPoint vary, with a consensus buy rating and a price target of $25.00 from multiple firms, indicating potential growth ahead.

Donald Smith & CO. Inc. lowered its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,775,609 shares of the company's stock after selling 112,278 shares during the period. SiriusPoint makes up about 3.3% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 11th largest position. Donald Smith & CO. Inc. owned approximately 6.67% of SiriusPoint worth $134,440,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SPNT. Sterling Capital Management LLC boosted its holdings in SiriusPoint by 742.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock worth $44,000 after purchasing an additional 2,392 shares during the period. US Bancorp DE acquired a new position in SiriusPoint in the first quarter worth $65,000. GAMMA Investing LLC boosted its holdings in SiriusPoint by 91.0% in the first 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 boosted its holdings in SiriusPoint by 25.0% in the fourth 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 acquired a new position in SiriusPoint in the fourth quarter worth $183,000. Hedge funds and other institutional investors own 52.79% of the company's stock.

SiriusPoint Stock Performance

Shares of SPNT traded up $0.14 during midday trading on Wednesday, hitting $18.61. 35,161 shares of the stock traded hands, compared to its average volume of 688,877. The firm has a market capitalization of $2.17 billion, a PE ratio of 20.91 and a beta of 0.86. The business's 50 day moving average price is $19.26 and its two-hundred day moving average price is $17.38. SiriusPoint Ltd. has a 1-year low of $12.78 and a 1-year high of $21.03. 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 (NYSE:SPNT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.10. The business had revenue of $948.20 million during the quarter, compared to the consensus estimate of $720.10 million. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of SiriusPoint in a report on Tuesday, April 15th. They issued a "hold" rating and a $17.00 price objective for the company. B. Riley began coverage on shares of SiriusPoint in a report on Monday, July 21st. They issued a "buy" rating and a $33.00 price objective for the company. 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, Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $25.00.

SiriusPoint Company 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.