Harbor Capital Advisors Inc. Buys 57,798 Shares of SiriusPoint Ltd. $SPNT

Key Points

• Harbor Capital Advisors increased its stake in SiriusPoint by 35.3%, buying 57,798 shares to hold 221,447 shares worth $4.85 million (about 0.19% of the company) at quarter-end.
• Several large institutions also boosted positions—most notably Goldman Sachs (+223.1%, +1,440,836 shares) and Capital Research (now 6.7 million shares)—bringing institutional ownership to 52.79%.
• SiriusPoint recently reported a quarter with an EPS beat ($0.70 vs. $0.54 consensus) and revenue of $973.7M, while trading at a P/E of 6.01 and a market cap of about $2.59 billion.

Harbor Capital Advisors Inc. increased its stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 35.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 221,447 shares of the company's stock after buying an additional 57,798 shares during the period. Harbor Capital Advisors Inc. owned 0.19% of SiriusPoint worth $4,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in SiriusPoint by 223.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock worth $36,079,000 after acquiring an additional 1,440,836 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of SiriusPoint by 17.5% during the third quarter. Capital Research Global Investors now owns 6,700,000 shares of the company's stock valued at $121,203,000 after acquiring an additional 1,000,000 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of SiriusPoint by 17.5% during the third quarter. American Century Companies Inc. now owns 5,745,793 shares of the company's stock valued at $103,941,000 after acquiring an additional 854,315 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of SiriusPoint by 20.6% in the 3rd quarter. Victory Capital Management Inc. now owns 4,312,811 shares of the company's stock worth $78,019,000 after purchasing an additional 736,823 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in SiriusPoint by 896.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 650,555 shares of the company's stock worth $11,769,000 after purchasing an additional 585,243 shares in the last quarter. Institutional investors own 52.79% of the company's stock.

SiriusPoint Trading Down 0.0%

Shares of NYSE:SPNT opened at $22.18 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59. SiriusPoint Ltd. has a 1 year low of $14.76 and a 1 year high of $22.89. The company has a market cap of $2.59 billion, a P/E ratio of 6.01 and a beta of 0.65. The stock's fifty day moving average price is $20.79 and its 200-day moving average price is $20.19.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.54 by $0.16. The company had revenue of $973.70 million during the quarter, compared to the consensus estimate of $773.00 million. SiriusPoint had a return on equity of 15.90% and a net margin of 14.34%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 17th. Raymond James Financial initiated coverage on shares of SiriusPoint in a report on Friday, January 16th. They issued a "market perform" rating for the company. Jefferies Financial Group upgraded shares of SiriusPoint to a "hold" rating in a research note on Wednesday, February 4th. Weiss Ratings cut shares of SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, March 19th. Finally, Zacks Research downgraded shares of SiriusPoint from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.