Empowered Funds LLC Raises Stock Position in SiriusPoint Ltd. $SPNT

Key Points

• Empowered Funds LLC increased its stake in SiriusPoint Ltd. by 2.2%, owning 734,406 shares valued at approximately $12.7 million after purchasing an additional 15,566 shares.
• SiriusPoint has a market capitalization of $2.22 billion and recently reported a quarterly revenue of \($948.20 million\), exceeding analysts' expectations.
• Analysts currently have an average rating of "Buy" for SiriusPoint, with a consensus target price of $25.00.

Empowered Funds LLC grew its holdings in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 734,406 shares of the company's stock after buying an additional 15,566 shares during the period. Empowered Funds LLC owned 0.63% of SiriusPoint worth $12,698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP raised its holdings in shares of SiriusPoint by 1,737.6% in the first quarter. Quarry LP now owns 3,473 shares of the company's stock valued at $60,000 after buying an additional 3,284 shares during the last quarter. US Bancorp DE purchased a new stake in shares of SiriusPoint in the first quarter valued at about $65,000. GAMMA Investing LLC raised its holdings in shares of SiriusPoint by 91.0% in the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after buying an additional 2,086 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of SiriusPoint in the first quarter valued at about $126,000. Finally, Summit Securities Group LLC purchased a new stake in shares of SiriusPoint in the first quarter valued at about $128,000. 52.79% of the stock is owned by hedge funds and other institutional investors.

SiriusPoint Price Performance

SiriusPoint stock traded up $0.50 during mid-day trading on Thursday, reaching $19.14. The company had a trading volume of 1,873,108 shares, compared to its average volume of 918,485. 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 current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $2.24 billion, a P/E ratio of 21.51 and a beta of 0.85. The stock's 50-day simple moving average is $18.85 and its 200-day simple moving average is $18.02.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.66 earnings per share (EPS) for the quarter, beating 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

A number of equities research analysts have recently commented on SPNT shares. B. Riley started coverage on shares of SiriusPoint in a report on Monday, July 21st. They issued a "buy" rating and a $33.00 target price for the company. Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the stock an "outperform" rating in a report on Thursday, June 26th. Finally, Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. Two investment 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 MarketBeat, the company has a consensus rating of "Buy" and an average price target 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.