Invesco Ltd. Has $30.40 Million Holdings in SiriusPoint Ltd. $SPNT

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. lowered its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 32.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,758,011 shares of the company's stock after selling 838,158 shares during the quarter. Invesco Ltd. owned 1.51% of SiriusPoint worth $30,396,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in SiriusPoint by 3.5% during the first quarter. Principal Financial Group Inc. now owns 529,959 shares of the company's stock valued at $9,163,000 after purchasing an additional 18,114 shares during the period. Victory Capital Management Inc. grew its holdings in SiriusPoint by 4,246.7% during the first quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company's stock valued at $47,397,000 after purchasing an additional 2,678,214 shares during the period. GAMMA Investing LLC grew its holdings in SiriusPoint by 91.0% during the first quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after purchasing an additional 2,086 shares during the period. Assenagon Asset Management S.A. grew its holdings in SiriusPoint by 67.5% during the first quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company's stock valued at $1,033,000 after purchasing an additional 24,074 shares during the period. Finally, Northern Trust Corp grew its holdings in SiriusPoint by 9.1% during the fourth quarter. Northern Trust Corp now owns 1,059,021 shares of the company's stock valued at $17,357,000 after purchasing an additional 88,296 shares during the period. Institutional investors and hedge funds own 52.79% of the company's stock.

Analysts Set New Price Targets

A number of 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 report on Friday, June 27th. B. Riley initiated coverage on shares of SiriusPoint in a report on Monday, July 21st. They issued a "buy" rating and a $33.00 price target for the company. Finally, Oppenheimer set a $25.00 price target on shares of 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 given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $25.00.

SiriusPoint Stock Performance

NYSE SPNT traded up $0.1750 on Friday, hitting $18.6750. 1,248,482 shares of the stock were exchanged, compared to its average volume of 840,990. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. The business's fifty day moving average is $19.13 and its 200 day moving average is $17.58. SiriusPoint Ltd. has a 52 week low of $12.78 and a 52 week high of $21.03. The company has a market capitalization of $2.18 billion, a PE ratio of 20.98 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate 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.