Punch & Associates Investment Management Inc. Acquires Shares of 724,110 SiriusPoint Ltd. $SPNT

Key Points

• Punch & Associates Investment Management Inc. acquired 724,110 shares of SiriusPoint Ltd., valued at approximately $12.5 million, making up 0.62% of the company's total shares.
• Notable institutional investors, including Principal Financial Group and Victory Capital Management, have significantly increased their stakes in SiriusPoint during the first quarter.
• Analysts have varying ratings on SiriusPoint, with a consensus average rating of "Buy" and a target price of $25.00, according to recent reports.

Punch & Associates Investment Management Inc. acquired a new stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 724,110 shares of the company's stock, valued at approximately $12,520,000. Punch & Associates Investment Management Inc. owned 0.62% of SiriusPoint at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in SiriusPoint by 3.5% during the first quarter. Principal Financial Group Inc. now owns 529,959 shares of the company's stock valued at $9,163,000 after buying an additional 18,114 shares during the period. Victory Capital Management Inc. increased its position in SiriusPoint by 4,246.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,741,280 shares of the company's stock valued at $47,397,000 after buying an additional 2,678,214 shares in the last quarter. GAMMA Investing LLC increased its position in SiriusPoint by 91.0% during the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after buying an additional 2,086 shares in the last quarter. Informed Momentum Co LLC bought a new position in SiriusPoint during the 1st quarter valued at approximately $3,792,000. Finally, Assenagon Asset Management S.A. increased its position in SiriusPoint by 67.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 59,750 shares of the company's stock valued at $1,033,000 after buying an additional 24,074 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company's stock.

Analyst Ratings Changes

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

SiriusPoint Price Performance

NYSE SPNT opened at $18.75 on Friday. SiriusPoint Ltd. has a one year low of $12.78 and a one year high of $21.03. The stock has a 50-day moving average of $18.93 and a 200 day moving average of $17.89. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 21.07 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 (NYSE:SPNT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.66 EPS for the quarter, topping 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 company had revenue of $948.20 million during the quarter, compared to the consensus estimate of $720.10 million.

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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