SiriusPoint Ltd. $SPNT Shares Sold by Edgestream Partners L.P.

Key Points

• Edgestream Partners L.P. cut its SiriusPoint stake by 80.9% in the first quarter, selling 101,419 shares and retaining 23,940 shares valued at approximately $516,000.
• Other institutional investors were more bullish: Arrowstreet Capital increased its position by 1,107.8%, while Vanguard raised its stake by 3.1%. Institutional investors collectively own 52.79% of SiriusPoint.
• Analysts assign the stock an average “Hold” rating with a $31 price target. SiriusPoint recently beat quarterly EPS estimates ($0.67 versus $0.65), although revenue of $744.1 million fell short of expectations.

Edgestream Partners L.P. trimmed its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 80.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,940 shares of the company's stock after selling 101,419 shares during the period. Edgestream Partners L.P.'s holdings in SiriusPoint were worth $516,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Horizon Investments LLC purchased a new stake in SiriusPoint during the fourth quarter worth $1,296,000. Arrowstreet Capital Limited Partnership increased its position in shares of SiriusPoint by 1,107.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 334,222 shares of the company's stock valued at $7,199,000 after buying an additional 306,550 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of SiriusPoint by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company's stock worth $265,452,000 after buying an additional 368,908 shares during the last quarter. Precision Wealth Strategies LLC acquired a new position in shares of SiriusPoint during the 1st quarter worth $1,701,000. Finally, Bessemer Group Inc. boosted its position in shares of SiriusPoint by 50.5% in the 1st quarter. Bessemer Group Inc. now owns 252,246 shares of the company's stock worth $5,433,000 after buying an additional 84,589 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPNT. Weiss Ratings cut shares of SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, May 11th. Zacks Research cut shares of SiriusPoint from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of SiriusPoint from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, B. Riley Financial started coverage on shares of SiriusPoint in a research note on Friday, April 17th. They set a "buy" rating and a $31.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $31.00.

SiriusPoint Trading Up 1.4%

SiriusPoint stock opened at $23.97 on Wednesday. The stock has a 50-day moving average price of $23.62 and a 200 day moving average price of $22.34. SiriusPoint Ltd. has a 52 week low of $17.17 and a 52 week high of $26.48. The stock has a market cap of $2.78 billion, a PE ratio of 5.85 and a beta of 0.61. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.02. The company had revenue of $744.10 million for the quarter, compared to analyst estimates of $798.95 million. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%. Equities research analysts predict that SiriusPoint Ltd. will post 2.59 earnings per share for the current fiscal year.

SiriusPoint 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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