Jupiter Topco LLC Acquires Shares of 48,922 SiriusPoint Ltd. $SPNT

Key Points

• Jupiter Topco LLC acquired 48,922 SiriusPoint shares in the second quarter, valued at approximately $1.17 million. Hedge funds and institutional investors own 52.79% of the company.
• Analyst sentiment is mixed: two analysts rate SiriusPoint a Buy and three rate it Hold, resulting in a consensus Hold rating and a $31 price target.
• SiriusPoint reported quarterly earnings of $0.67 per share, exceeding estimates of $0.65, while revenue of $744.1 million fell short of the $798.95 million consensus estimate.

Jupiter Topco LLC bought a new stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,922 shares of the company's stock, valued at approximately $1,173,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in shares of SiriusPoint by 187.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,113 shares of the company's stock worth $43,000 after acquiring an additional 1,377 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of SiriusPoint in the 4th quarter worth $136,000. Inspire Investing LLC bought a new position in SiriusPoint in the 4th quarter worth $185,000. Royal Bank of Canada raised its holdings in SiriusPoint by 64.0% in the 4th quarter. Royal Bank of Canada now owns 8,790 shares of the company's stock worth $192,000 after purchasing an additional 3,430 shares during the period. Finally, Entropy Technologies LP purchased a new position in SiriusPoint during the third quarter valued at $192,000. 52.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPNT has been the subject of a number of analyst reports. Weiss Ratings restated a "buy (b+)" rating on shares of SiriusPoint in a research report on Friday, August 7th. Wall Street Zen cut SiriusPoint from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded SiriusPoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $31.00.

SiriusPoint Trading Down 1.3%

Shares of SPNT opened at $24.52 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.58 and a quick ratio of 0.58. SiriusPoint Ltd. has a 1 year low of $17.17 and a 1 year high of $26.48. The company has a 50 day simple moving average of $24.19 and a two-hundred day simple moving average of $22.90. The firm has a market cap of $2.85 billion, a P/E ratio of 5.98 and a beta of 0.61.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%. The firm had revenue of $744.10 million for the quarter, compared to the consensus estimate of $798.95 million. On average, equities analysts expect that SiriusPoint Ltd. will post 2.57 earnings per share for the current fiscal year.

SiriusPoint Company 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.

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