SiriusPoint Ltd. $SPNT Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers has reduced its position in SiriusPoint Ltd. by 6.4%, owning 257,883 shares valued at approximately $4.46 million after selling 17,668 shares in the first quarter.
• Several institutional investors, including Natixis Advisors and Royal Bank of Canada, have increased their holdings in SiriusPoint, indicating a mixed sentiment among investors.
• SiriusPoint reported a quarterly EPS of $0.66 for August 4th, surpassing analyst expectations, and generated $948.20 million in revenue, significantly exceeding consensus estimates of $720.10 million.

Rhumbline Advisers trimmed its position in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,883 shares of the company's stock after selling 17,668 shares during the period. Rhumbline Advisers owned approximately 0.22% of SiriusPoint worth $4,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SPNT. Natixis Advisors LLC raised its holdings in shares of SiriusPoint by 10.9% in the 1st quarter. Natixis Advisors LLC now owns 14,662 shares of the company's stock valued at $254,000 after buying an additional 1,444 shares during the period. GAMMA Investing LLC grew its position in SiriusPoint by 91.0% in the 1st quarter. GAMMA Investing LLC now owns 4,379 shares of the company's stock valued at $76,000 after acquiring an additional 2,086 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SiriusPoint by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,933 shares of the company's stock worth $967,000 after purchasing an additional 2,480 shares during the period. Royal Bank of Canada lifted its position in shares of SiriusPoint by 20.1% during the first quarter. Royal Bank of Canada now owns 17,589 shares of the company's stock worth $304,000 after purchasing an additional 2,949 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of SiriusPoint by 10.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 34,127 shares of the company's stock valued at $590,000 after purchasing an additional 3,100 shares in the last quarter. 52.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPNT has been the subject of several recent research reports. Wall Street Zen cut shares of SiriusPoint from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. B. Riley initiated coverage on SiriusPoint in a research note on Monday, July 21st. They issued a "buy" rating and a $33.00 price objective on the stock. Finally, Oppenheimer set a $25.00 target price on SiriusPoint and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $25.00.

SiriusPoint Trading Down 0.7%

SPNT opened at $19.02 on Monday. SiriusPoint Ltd. has a 52 week low of $12.78 and a 52 week high of $21.03. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 21.37 and a beta of 0.85. The business's 50 day moving average is $18.83 and its two-hundred day moving average is $18.09. 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 (NYSE:SPNT - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.10. SiriusPoint had a return on equity of 6.57% and a net margin of 4.38%.The firm had revenue of $948.20 million for the quarter, compared to analyst estimates of $720.10 million.

SiriusPoint Company 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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