PDT Partners LLC Buys New Stake in SiriusPoint Ltd. $SPNT

Key Points

• PDT Partners LLC acquired 141,654 SiriusPoint shares in the second quarter, valued at roughly $3.4 million and representing about 0.12% of the insurer. Institutional investors collectively own 52.79% of the company.
• SiriusPoint reported quarterly EPS of $0.67, slightly above the $0.65 consensus estimate, while revenue of $744.1 million fell short of analysts’ $799.0 million forecast.
• SPNT shares opened at $23.91, near their recent moving averages, while analysts maintain a consensus “Hold” rating with a $31.00 target price.

PDT Partners LLC purchased a new stake in SiriusPoint Ltd. (NYSE:SPNT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 141,654 shares of the company's stock, valued at approximately $3,400,000. PDT Partners LLC owned about 0.12% of SiriusPoint as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in SiriusPoint by 187.1% during the second 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 period. Leonteq Securities AG purchased a new stake in SiriusPoint in the 4th quarter worth approximately $136,000. Inspire Investing LLC acquired a new stake in SiriusPoint during the fourth quarter valued at $185,000. Royal Bank of Canada boosted its stake in shares of SiriusPoint by 64.0% during the 4th quarter. Royal Bank of Canada now owns 8,790 shares of the company's stock worth $192,000 after acquiring an additional 3,430 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of SiriusPoint during the 3rd quarter valued at about $192,000. Hedge funds and other institutional investors own 52.79% of the company's stock.

SiriusPoint Trading Down 0.2%

Shares of SPNT opened at $23.91 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $24.03 and a 200 day moving average price of $22.71. SiriusPoint Ltd. has a 12-month low of $17.17 and a 12-month high of $26.48. The firm has a market capitalization of $2.78 billion, a P/E ratio of 5.83 and a beta of 0.61.

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

Analysts Set New Price Targets

A number of analysts have recently commented on SPNT shares. Weiss Ratings restated a "buy (b+)" rating on shares of SiriusPoint in a research report on Friday, August 7th. Wall Street Zen cut shares of SiriusPoint from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered shares of SiriusPoint from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $31.00.

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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