Public Sector Pension Investment Board Has $5.06 Million Stock Holdings in SiriusPoint Ltd. $SPNT

Key Points

• The Public Sector Pension Investment Board increased its stake in SiriusPoint Ltd. by 27.3%, acquiring 62,702 additional shares, bringing its total holdings to approximately 292,557 shares worth $5.06 million.
• Despite this investment activity, shares of SiriusPoint recently decreased by 1.7%, with the stock priced at $18.26 and a market capitalization of $2.13 billion.
• SiriusPoint reported a strong quarterly earnings performance, with earnings per share of $0.66, exceeding analysts' estimates by $0.10 and achieving revenue of $948.20 million for the quarter.

Public Sector Pension Investment Board grew its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 292,557 shares of the company's stock after purchasing an additional 62,702 shares during the period. Public Sector Pension Investment Board owned approximately 0.25% of SiriusPoint worth $5,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SPNT. Wells Fargo & Company MN boosted its position in shares of SiriusPoint by 11.3% during the 4th quarter. Wells Fargo & Company MN now owns 96,491 shares of the company's stock valued at $1,581,000 after purchasing an additional 9,806 shares in the last quarter. Bank of Montreal Can lifted its stake in SiriusPoint by 8.4% during the fourth quarter. Bank of Montreal Can now owns 18,013 shares of the company's stock valued at $295,000 after buying an additional 1,393 shares in the last quarter. Renaissance Technologies LLC lifted its stake in SiriusPoint by 73.6% during the fourth quarter. Renaissance Technologies LLC now owns 227,987 shares of the company's stock valued at $3,737,000 after buying an additional 96,687 shares in the last quarter. Sterling Capital Management LLC lifted its stake in SiriusPoint by 742.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,714 shares of the company's stock valued at $44,000 after buying an additional 2,392 shares in the last quarter. Finally, Mariner LLC lifted its stake in SiriusPoint by 6.3% during the fourth quarter. Mariner LLC now owns 20,792 shares of the company's stock valued at $341,000 after buying an additional 1,230 shares in the last quarter. Institutional investors own 52.79% of the company's stock.

SiriusPoint Price Performance

Shares of SiriusPoint stock traded up $0.3840 during trading on Friday, reaching $18.8840. The company's stock had a trading volume of 244,398 shares, compared to its average volume of 698,707. The stock has a 50-day moving average price of $19.14 and a two-hundred day moving average price of $17.55. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. SiriusPoint Ltd. has a one year low of $12.78 and a one year high of $21.03. The stock has a market capitalization of $2.20 billion, a P/E ratio of 21.22 and a beta of 0.86.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SPNT. Wall Street Zen lowered shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. B. Riley began coverage on shares of SiriusPoint in a research report on Monday, July 21st. They issued a "buy" rating and a $33.00 price target for the company. Finally, Oppenheimer set a $25.00 price objective on SiriusPoint and gave the stock an "outperform" rating in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price 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.