SiriusPoint Ltd. $SPNT Shares Acquired by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. increased its holdings in SiriusPoint Ltd. by 11.3% during Q2, bringing its total shares to 441,968 with a current value of approximately $9 million.
• SiriusPoint reported $0.66 earnings per share for the last quarter, exceeding the consensus estimate by $0.10 and recording revenue of $948.2 million.
• The stock has a consensus rating of Buy among analysts, with a target price averaging $25.00 per share.

Harbor Capital Advisors Inc. increased its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 441,968 shares of the company's stock after acquiring an additional 44,705 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.38% of SiriusPoint worth $9,012,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Natixis Advisors LLC increased its holdings in shares of SiriusPoint by 10.9% during the first quarter. Natixis Advisors LLC now owns 14,662 shares of the company's stock valued at $254,000 after acquiring an additional 1,444 shares in the last quarter. GAMMA Investing LLC increased its position in shares of SiriusPoint by 91.0% in the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after acquiring an additional 2,086 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of SiriusPoint by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company's stock worth $967,000 after acquiring an additional 2,480 shares during the period. Royal Bank of Canada grew its position in SiriusPoint by 20.1% during the first quarter. Royal Bank of Canada now owns 17,589 shares of the company's stock valued at $304,000 after buying an additional 2,949 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in SiriusPoint by 10.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 34,127 shares of the company's stock valued at $590,000 after purchasing an additional 3,100 shares during the period. Institutional investors and hedge funds own 52.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SPNT shares. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Oppenheimer set a $25.00 price objective on SiriusPoint and gave the stock an "outperform" rating in a report on Thursday, June 26th. Finally, B. Riley began coverage on SiriusPoint in a research note on Monday, July 21st. They issued a "buy" rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $25.00.

SiriusPoint Stock Down 1.5%

Shares of SPNT traded down $0.27 during mid-day trading on Friday, hitting $17.75. 3,805,825 shares of the company's stock were exchanged, compared to its average volume of 910,469. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 19.94 and a beta of 0.85. SiriusPoint Ltd. has a fifty-two week low of $12.78 and a fifty-two week 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. The stock's 50-day moving average is $18.75 and its 200-day moving average is $18.16.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.10. The company had revenue of $948.20 million for the quarter, compared to analyst estimates of $720.10 million. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%.

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.