SiriusPoint Ltd. $SPNT Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in SiriusPoint Ltd. by 32.3%, selling 838,158 shares and now holding around 1.51% of the company valued at approximately $30.4 million.
• Several hedge funds, including Dimensional Fund Advisors and Victory Capital Management, have increased their holdings in SiriusPoint, indicating strong institutional interest with 52.79% of the stock owned by institutional investors.
• SiriusPoint reported better-than-expected earnings with $0.66 per share, surpassing estimates, and has a current stock price near $18.24, amid various analyst ratings suggesting a "buy" or "outperform."

Invesco Ltd. trimmed its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 32.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,758,011 shares of the company's stock after selling 838,158 shares during the quarter. Invesco Ltd. owned approximately 1.51% of SiriusPoint worth $30,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC raised its position in shares of SiriusPoint by 742.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock valued at $44,000 after buying an additional 2,392 shares during the last quarter. US Bancorp DE purchased a new position in SiriusPoint during the first quarter worth $65,000. GAMMA Investing LLC boosted its stake in SiriusPoint by 91.0% during 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. Tower Research Capital LLC TRC boosted its stake in SiriusPoint by 25.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock worth $173,000 after buying an additional 2,115 shares during the period. Finally, Quantessence Capital LLC purchased a new position in SiriusPoint during the fourth quarter worth $183,000. 52.79% of the stock is owned by hedge funds and other institutional investors.

SiriusPoint Stock Down 1.6%

Shares of SPNT stock traded down $0.2950 during trading hours on Monday, reaching $18.4050. 594,472 shares of the company's stock were exchanged, compared to its average volume of 861,022. 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 $2.15 billion, a PE ratio of 20.68 and a beta of 0.86. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. The stock's fifty day moving average price is $19.11 and its two-hundred day moving average price is $17.66.

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, topping analysts' consensus estimates of $0.56 by $0.10. The business had revenue of $948.20 million for the quarter, compared to analyst estimates of $720.10 million. SiriusPoint had a return on equity of 6.57% and a net margin of 4.38%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen lowered shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. B. Riley assumed coverage on shares of SiriusPoint in a research note on Monday, July 21st. They set a "buy" rating and a $33.00 target price for the company. Finally, Oppenheimer set a $25.00 price objective on SiriusPoint and gave the company an "outperform" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, SiriusPoint presently has an average rating of "Buy" and a consensus target price 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.