Informed Momentum Co LLC Invests $3.79 Million in SiriusPoint Ltd. (NYSE:SPNT)

Key Points

• Informed Momentum Co LLC has invested approximately $3.79 million in SiriusPoint Ltd. by acquiring 219,292 shares during the 1st quarter.
• Multiple institutional investors, including Mariner LLC and Bank of Montreal Can, have increased their stakes in SiriusPoint, which now has 52.79% of its stock owned by institutional investors and hedge funds.
• SiriusPoint reported an EPS of $0.66 for the last quarter, surpassing the consensus estimate of $0.56, alongside a revenue of $948.20 million compared to expectations of $720.10 million.

Informed Momentum Co LLC bought a new stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 219,292 shares of the company's stock, valued at approximately $3,792,000. Informed Momentum Co LLC owned about 0.19% of SiriusPoint at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of SiriusPoint by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,568,197 shares of the company's stock valued at $124,018,000 after purchasing an additional 252,120 shares in the last quarter. Capital Research Global Investors grew its position in SiriusPoint by 17.8% in the fourth quarter. Capital Research Global Investors now owns 6,300,000 shares of the company's stock worth $103,257,000 after acquiring an additional 950,000 shares in the last quarter. Private Management Group Inc. grew its position in SiriusPoint by 0.5% in the first quarter. Private Management Group Inc. now owns 4,388,596 shares of the company's stock worth $75,879,000 after acquiring an additional 20,573 shares in the last quarter. Victory Capital Management Inc. grew its position 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 acquiring an additional 2,678,214 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its position in SiriusPoint by 12.8% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 2,643,704 shares of the company's stock worth $43,330,000 after acquiring an additional 299,114 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPNT has been the subject of several recent research reports. B. Riley started coverage on SiriusPoint in a research report on Monday, July 21st. They issued a "buy" rating and a $33.00 price target for the company. Oppenheimer set a $25.00 price target on shares of SiriusPoint and gave the company an "outperform" rating in a research note on Thursday, June 26th. Finally, Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, SiriusPoint has a consensus rating of "Buy" and a consensus target price of $25.00.

SiriusPoint Stock Performance

Shares of SPNT stock traded down $0.32 on Friday, hitting $18.26. The company had a trading volume of 914,945 shares, compared to its average volume of 751,416. The firm has a market cap of $2.13 billion, a P/E ratio of 20.52 and a beta of 0.86. The company has a 50-day moving average price of $19.22 and a 200-day moving average price of $17.45. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.36. SiriusPoint Ltd. has a twelve month low of $12.78 and a twelve month high of $21.03.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.10. The firm 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%.

About SiriusPoint

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.