Martingale Asset Management L P Has $409,000 Stock Holdings in SiriusPoint Ltd. $SPNT

Key Points

• Martingale Asset Management L P reduced its stake in SiriusPoint Ltd. by 43.7%, holding 23,639 shares worth $409,000 after selling 18,331 shares in the first quarter.
• Institutional investors own 52.79% of SiriusPoint's stock, with several funds like Wells Fargo and Tower Research increasing their holdings in the last quarter.
• SiriusPoint reported earnings of $0.66 per share, exceeding analyst expectations, and achieved revenue of $948.20 million for the quarter.

Martingale Asset Management L P lessened its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 43.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,639 shares of the company's stock after selling 18,331 shares during the quarter. Martingale Asset Management L P's holdings in SiriusPoint were worth $409,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SPNT. Wells Fargo & Company MN raised its stake in SiriusPoint by 11.3% in the 4th quarter. Wells Fargo & Company MN now owns 96,491 shares of the company's stock worth $1,581,000 after purchasing an additional 9,806 shares in the last quarter. Mariner LLC increased its holdings in SiriusPoint by 6.3% in the 4th quarter. Mariner LLC now owns 20,792 shares of the company's stock valued at $341,000 after buying an additional 1,230 shares during the period. MetLife Investment Management LLC increased its holdings in SiriusPoint by 4.9% in the 4th quarter. MetLife Investment Management LLC now owns 59,738 shares of the company's stock valued at $979,000 after buying an additional 2,783 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in SiriusPoint by 19.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 31,027 shares of the company's stock worth $509,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in SiriusPoint by 25.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company's stock worth $173,000 after purchasing an additional 2,115 shares in the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

SiriusPoint Price Performance

SPNT stock opened at $18.4050 on Tuesday. The firm has a 50 day moving average of $19.11 and a 200-day moving average of $17.66. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. SiriusPoint Ltd. has a 12 month low of $12.78 and a 12 month high of $21.03. The firm has a market capitalization of $2.15 billion, a P/E ratio of 20.68 and a beta of 0.86.

SiriusPoint (NYSE:SPNT - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.10. SiriusPoint had a net margin of 4.38% and a return on equity of 6.57%. The business had revenue of $948.20 million during the quarter, compared to analyst estimates of $720.10 million.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. B. Riley began coverage on shares of SiriusPoint in a research note on Monday, July 21st. They issued a "buy" rating and a $33.00 price objective on the stock. Finally, Oppenheimer set a $25.00 target price on shares of SiriusPoint and gave the company an "outperform" rating in a research 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average 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.

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