Hsbc Holdings PLC Decreases Stock Holdings in SiriusPoint Ltd. $SPNT

Key Points

• Hsbc Holdings PLC cut its SiriusPoint stake by 55.3% in the first quarter, selling 53,211 shares and retaining 42,968 shares valued at approximately $920,000.
• Other institutional investors increased their positions, including Goldman Sachs, which raised its stake by 223.1%; hedge funds and institutional investors collectively own 52.79% of SiriusPoint.
• Analysts have a consensus “Hold” rating with a $31.00 price target. SiriusPoint recently reported quarterly EPS of $0.67, slightly above expectations, while revenue of $744.1 million fell short of estimates.

Hsbc Holdings PLC reduced its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 55.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,968 shares of the company's stock after selling 53,211 shares during the quarter. Hsbc Holdings PLC's holdings in SiriusPoint were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SPNT. Goldman Sachs Group Inc. lifted its position in shares of SiriusPoint by 223.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock valued at $36,079,000 after acquiring an additional 1,440,836 shares during the period. Donald Smith & CO. Inc. grew its holdings in shares of SiriusPoint by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company's stock worth $184,510,000 after acquiring an additional 1,026,284 shares during the period. Capital Research Global Investors grew its holdings in shares of SiriusPoint by 11.2% in the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company's stock worth $163,036,000 after acquiring an additional 747,968 shares during the period. Millennium Management LLC increased its stake in SiriusPoint by 3,428.3% in the 3rd quarter. Millennium Management LLC now owns 584,318 shares of the company's stock valued at $10,570,000 after purchasing an additional 567,757 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in SiriusPoint by 2,183.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 515,464 shares of the company's stock valued at $9,325,000 after purchasing an additional 492,894 shares in the last quarter. 52.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPNT. Wall Street Zen cut SiriusPoint from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Zacks Research lowered SiriusPoint from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Weiss Ratings cut SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, May 11th. Finally, B. Riley Financial started coverage on SiriusPoint in a research note on Friday, April 17th. They set a "buy" rating and a $31.00 price target for the company. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.00.

SiriusPoint Price Performance

SPNT opened at $25.83 on Thursday. The company's 50 day simple moving average is $23.59 and its 200 day simple moving average is $22.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 0.60. SiriusPoint Ltd. has a 1 year low of $17.17 and a 1 year high of $26.48. The stock has a market capitalization of $3.04 billion, a PE ratio of 6.42 and a beta of 0.60.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $744.10 million during the quarter, compared to analyst estimates of $798.95 million. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. As a group, sell-side analysts expect that SiriusPoint Ltd. will post 2.57 EPS for the current year.

About SiriusPoint

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.

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