Public Employees Retirement System of Ohio Invests $332,000 in SiriusPoint Ltd. $SPNT

Key Points

• The Public Employees Retirement System of Ohio invested approximately $332,000 in SiriusPoint Ltd., acquiring 16,294 shares in the second quarter.
• SiriusPoint reported $0.66 EPS for the last quarter, exceeding analysts' expectations and generating $948.20 million in revenue.
• Brokerages have set an average price target of $25.00 for SiriusPoint, with multiple firms rating the stock as a "buy".

Public Employees Retirement System of Ohio purchased a new position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,294 shares of the company's stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPNT. Victory Capital Management Inc. lifted its holdings in shares of SiriusPoint by 4,246.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company's stock worth $47,397,000 after acquiring an additional 2,678,214 shares during the period. Goldman Sachs Group Inc. lifted its stake in SiriusPoint by 223.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,086,688 shares of the company's stock valued at $36,079,000 after purchasing an additional 1,440,836 shares during the last quarter. American Century Companies Inc. lifted its stake in SiriusPoint by 42.6% in the 1st quarter. American Century Companies Inc. now owns 3,789,579 shares of the company's stock valued at $65,522,000 after purchasing an additional 1,132,787 shares during the last quarter. Punch & Associates Investment Management Inc. bought a new position in SiriusPoint in the 1st quarter valued at approximately $12,520,000. Finally, Zweig DiMenna Associates LLC bought a new position in SiriusPoint in the 1st quarter valued at approximately $7,582,000. Institutional investors own 52.79% of the company's stock.

SiriusPoint Price Performance

SPNT stock opened at $18.24 on Tuesday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 20.49 and a beta of 0.76. The company has a quick ratio of 0.60, a current 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 company's fifty day simple moving average is $18.47 and its 200 day simple moving average is $18.43.

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

Analysts Set New Price Targets

Several brokerages recently commented on SPNT. Weiss Ratings reissued a "buy (b)" rating on shares of SiriusPoint in a research note on Saturday, September 27th. 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. Wall Street Zen downgraded shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Finally, 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 for the company. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target 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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