Nuveen LLC Invests $3.88 Million in SiriusPoint Ltd. $SPNT

Key Points

• Nuveen LLC has made a new investment in SiriusPoint Ltd. by acquiring 224,568 shares worth approximately $3.88 million, now holding 0.19% of the company.
• Analysts have mixed views on SiriusPoint, with a consensus rating of "Buy" and a target price of $25.00, while two analysts rated it as a "Strong Buy."
• SiriusPoint reported a quarterly EPS of $0.66, surpassing expectations, with revenues of $948.20 million for the quarter, significantly exceeding the consensus estimate.

Nuveen LLC bought a new position in SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 224,568 shares of the company's stock, valued at approximately $3,883,000. Nuveen LLC owned approximately 0.19% of SiriusPoint as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SPNT. US Bancorp DE bought a new stake in SiriusPoint in the first quarter worth approximately $65,000. GAMMA Investing LLC boosted its holdings in shares of SiriusPoint by 91.0% during the 1st 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 holdings in shares of 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 buying an additional 2,115 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of SiriusPoint during the 4th quarter worth $204,000. Finally, Natixis Advisors LLC boosted its holdings in shares of SiriusPoint by 10.9% during the 1st quarter. Natixis Advisors LLC now owns 14,662 shares of the company's stock worth $254,000 after buying an additional 1,444 shares during the period. 52.79% of the stock is owned by institutional investors.

SiriusPoint Price Performance

Shares of SPNT traded up $0.27 during trading hours on Monday, hitting $18.68. The stock had a trading volume of 1,732,030 shares, compared to its average volume of 861,415. The company's fifty day moving average is $19.04 and its two-hundred day moving average is $17.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. SiriusPoint Ltd. has a 52 week low of $12.78 and a 52 week high of $21.03. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 20.98 and a beta of 0.85.

SiriusPoint (NYSE:SPNT - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.66 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $720.10 million.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. B. Riley began 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 shares of SiriusPoint and gave the company an "outperform" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued 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.

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.