Empowered Funds LLC Acquires 15,566 Shares of 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 increased its holdings in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 734,406 shares of the company's stock after purchasing an additional 15,566 shares during the quarter. Empowered Funds LLC owned approximately 0.63% of SiriusPoint worth $12,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of SiriusPoint by 3.5% in the first quarter. Principal Financial Group Inc. now owns 529,959 shares of the company's stock worth $9,163,000 after purchasing an additional 18,114 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in SiriusPoint by 4,246.7% in the first quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company's stock worth $47,397,000 after buying an additional 2,678,214 shares during the period. GAMMA Investing LLC lifted 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 buying an additional 2,086 shares during the period. Informed Momentum Co LLC purchased a new stake in SiriusPoint in the first quarter worth about $3,792,000. Finally, Assenagon Asset Management S.A. lifted its holdings in SiriusPoint by 67.5% in the first quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company's stock worth $1,033,000 after buying an additional 24,074 shares during the period. 52.79% of the stock is owned by institutional investors.

SiriusPoint Stock Down 0.7%

NYSE SPNT traded down $0.14 during mid-day trading on Friday, reaching $19.02. The stock had a trading volume of 868,651 shares, compared to its average volume of 986,965. SiriusPoint Ltd. has a 1 year low of $12.78 and a 1 year high of $21.03. The stock has a market cap of $2.22 billion, a PE ratio of 21.37 and a beta of 0.85. The company has a fifty day moving average price of $18.83 and a 200 day moving average price of $18.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.66 earnings per share 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 analyst estimates of $720.10 million.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen lowered shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. B. Riley assumed 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. Finally, Oppenheimer set a $25.00 price objective on shares of SiriusPoint and gave the stock an "outperform" rating in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $25.00.

SiriusPoint 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.