Optimize Financial Inc Makes New Investment in SiriusPoint Ltd. $SPNT

Key Points

• Optimize Financial Inc has made a new investment in SiriusPoint Ltd., acquiring 25,224 shares valued at approximately $436,000.
• Several institutional investors, including Goldman Sachs and American Century Companies, significantly increased their stakes in SiriusPoint during the first quarter.
• SiriusPoint reported earnings of $0.66 per share, exceeding estimates, with a revenue of $948.20 million for the last quarter, well above the anticipated $720.10 million.

Optimize Financial Inc purchased a new stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 25,224 shares of the company's stock, valued at approximately $436,000.

A number of other hedge funds also recently bought and sold shares of SPNT. Northern Trust Corp raised its position in SiriusPoint by 9.1% in the 4th 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 in the last quarter. Jane Street Group LLC raised its position in SiriusPoint by 42.7% in the 4th quarter. Jane Street Group LLC now owns 61,976 shares of the company's stock valued at $1,016,000 after purchasing an additional 18,531 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in SiriusPoint in the 4th quarter valued at about $204,000. Balyasny Asset Management L.P. acquired a new stake in SiriusPoint in the 4th quarter valued at about $742,000. Finally, Deutsche Bank AG increased its holdings in shares of SiriusPoint by 79.7% in the 4th quarter. Deutsche Bank AG now owns 90,819 shares of the company's stock valued at $1,489,000 after acquiring an additional 40,283 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

SiriusPoint Stock Performance

SiriusPoint stock traded up $0.50 during trading hours on Thursday, reaching $19.14. 1,873,108 shares of the stock were exchanged, compared to its average volume of 918,485. The stock has a market cap of $2.24 billion, a P/E ratio of 21.51 and a beta of 0.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.60. SiriusPoint Ltd. has a 52-week low of $12.78 and a 52-week high of $21.03. The firm's 50 day moving average is $18.85 and its 200 day moving average is $18.02.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Oppenheimer set a $25.00 price objective on SiriusPoint and gave the company an "outperform" rating in a report on Thursday, June 26th. B. Riley assumed coverage on SiriusPoint in a report on Monday, July 21st. They issued a "buy" rating and a $33.00 price objective on the stock. Finally, Wall Street Zen downgraded SiriusPoint from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, SiriusPoint currently has a consensus rating of "Buy" and a consensus target price of $25.00.

SiriusPoint Company 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.