Private Management Group Inc. Sells 404,278 Shares of SiriusPoint Ltd. $SPNT

Key Points

• Private Management Group Inc. reduced its SiriusPoint stake by 11.8%, selling 404,278 shares in the second quarter. It still owned 3.01 million shares, worth approximately $72.2 million and representing 1.9% of its portfolio.
• Analyst sentiment is mixed: two firms downgraded SiriusPoint to “Hold,” while Weiss Ratings maintained a “Buy” rating. Overall, analysts give the stock a “Hold” consensus with an average price target of $31.
• SiriusPoint reported quarterly earnings of $0.67 per share, narrowly beating estimates of $0.65, though revenue of $744.1 million fell short of the $799.0 million consensus forecast.

Private Management Group Inc. decreased its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,008,267 shares of the company's stock after selling 404,278 shares during the period. SiriusPoint comprises about 1.9% of Private Management Group Inc.'s investment portfolio, making the stock its 3rd biggest holding. Private Management Group Inc. owned about 2.59% of SiriusPoint worth $72,198,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 1,377 shares during the last quarter. Caitlin John LLC bought a new stake in shares of SiriusPoint in the 2nd quarter valued at approximately $52,000. Leonteq Securities AG bought a new stake in shares of SiriusPoint in the 4th quarter valued at approximately $136,000. Inspire Investing LLC acquired a new stake in shares of SiriusPoint during the 4th quarter valued at approximately $185,000. Finally, Royal Bank of Canada raised its position 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 valued at $192,000 after acquiring an additional 3,430 shares in the last quarter. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

SiriusPoint Stock Performance

Shares of SPNT stock opened at $24.22 on Friday. SiriusPoint Ltd. has a 12-month low of $17.17 and a 12-month high of $26.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 5.91 and a beta of 0.61. The business has a 50 day simple moving average of $24.08 and a 200 day simple moving average of $22.75.

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