SiriusPoint Ltd. $SPNT Shares Sold by Zweig DiMenna Associates LLC

Key Points

• Zweig DiMenna Associates LLC cut its SiriusPoint stake by 19.2% in the first quarter, selling 94,150 shares and leaving it with 397,350 shares worth about $8.56 million.
• Institutional ownership remains high, with several large investors such as Vanguard, Donald Smith & Co., and Capital Research Global Investors increasing their positions; institutions and hedge funds now own 52.79% of SiriusPoint.
• SiriusPoint reported solid quarterly results, posting $0.70 EPS on $774.6 million in revenue, while analysts currently have a consensus Hold rating with an average price target of $31.00.

Zweig DiMenna Associates LLC lowered its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 397,350 shares of the company's stock after selling 94,150 shares during the period. SiriusPoint comprises 1.2% of Zweig DiMenna Associates LLC's portfolio, making the stock its 29th largest holding. Zweig DiMenna Associates LLC owned 0.34% of SiriusPoint worth $8,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPNT. Vanguard Group Inc. increased its holdings in SiriusPoint by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 12,126,635 shares of the company's stock valued at $265,452,000 after buying an additional 368,908 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of SiriusPoint by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,428,966 shares of the company's stock worth $184,510,000 after acquiring an additional 1,026,284 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of SiriusPoint by 11.2% during the 4th quarter. Capital Research Global Investors now owns 7,447,968 shares of the company's stock worth $163,036,000 after acquiring an additional 747,968 shares in the last quarter. State Street Corp grew its holdings in shares of SiriusPoint by 12.1% in the 4th quarter. State Street Corp now owns 4,325,405 shares of the company's stock worth $94,683,000 after acquiring an additional 468,060 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of SiriusPoint by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,447,810 shares of the company's stock worth $53,592,000 after acquiring an additional 13,305 shares during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

SiriusPoint Trading Down 1.7%

SiriusPoint stock opened at $24.75 on Wednesday. The stock has a 50-day moving average price of $23.18 and a 200 day moving average price of $21.96. SiriusPoint Ltd. has a 52 week low of $17.17 and a 52 week high of $25.34. The stock has a market cap of $2.91 billion, a PE ratio of 6.16 and a beta of 0.60. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30.

SiriusPoint (NYSE:SPNT - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.70 earnings per share (EPS) for the quarter. SiriusPoint had a net margin of 15.38% and a return on equity of 16.92%. The company had revenue of $774.60 million for the quarter. Equities research analysts predict that SiriusPoint Ltd. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPNT. Weiss Ratings cut SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, May 11th. B. Riley Financial assumed coverage on SiriusPoint in a research report on Friday, April 17th. They set a "buy" rating and a $31.00 target price on the stock. Wall Street Zen lowered SiriusPoint from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Zacks Research cut SiriusPoint from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $31.00.

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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